Money Still Being Spent On Elections

An interesting fact:

"The sinking economy appears to be having little effect on presidential fund-raising, with both candidates continuing to rake in record amounts of campaign cash."

Read on.

Also, an argument against public funding:

"Sen. Obama, who took the unprecedented step of refusing federal financing for the general election, has raised some $454 million from the time he began running through the end of August. Though both candidates are on track to raise similar amounts of money between themselves and their parties, Sen. Obama has one advantage: because he opted out of public financing, he can direct how and where his money is spent. Sen. McCain accepted public financing, so most of the party money he has helped to raise must be spent independently of his campaign. For example, when the McCain campaign said last week that it was pulling out of Michigan and redirecting its efforts, the Republican Party reported spending $5 million on ads in the state just the day before. It's unclear if any of that money could be recouped"

It would seem that Sen. Obama did the right thing.