
Barack Obama has become the first major-party candidate to opt out of public financing since Watergate.
It's no big surprise. When it comes to fund-raising, Obama is a virtual ATM machine. Candidates who take public financing get about $85 million to spend in the 2 months before the general election. But, if Obama can tap into the 1.5 million donors who contributed to him during the primaries along with Hillary Clinton's donors, some predict he could raise as much as $500 million – which would put him at a tremendous advantage over John McCain, who says he'll take public financing.
Experts say Obama could use this money to run a national ad campaign similar to marketing drives run by companies like McDonald's and Nike. He'll also be able to compete in Republican states, where the GOP rarely gets competition.
The downside for Obama is he's opened himself up to charges of hypocrisy. Last year he vowed to work with the Republican nominee to "preserve a publicly financed general election." And he's now drawing fire from both friends and foes for this change of heart.
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(CNN) - John McCain's campaign is striking back after a top staffer for Iowa Governor Chet Culver said Thursday that the Democratic governor had unsuccessfully asked the Arizona senator to avoid making a scheduled campaign trip to the flood-ravaged state.
Patrick Dillon, Culver’s chief of staff, said in a statement there had been worries McCain's arrival would put a strain on already-overtaxed area law enforcement. The presumptive Republican nominee visited several hard-hit towns in the state Thursday.
President Bush also visited Iowa Thursday.
A McCain aide said the campaign took steps to avoid burdening any flood recovery efforts. “We worked with the local authorities to make certain we weren’t getting in the way. We’d be happy to put you in touch with the local mayor and sheriff who were part of our tour,” a McCain aide told CNN and pointed to an AP-reported comment from the mayor of the town of Columbus Junction, Iowa that McCain’s Thursday visit had not posed any difficulties.
“The governor never called the campaign to express this concern,” the McCain aide added.
WASHINGTON (CNN) - A former Bush spokesman said Friday he did not think the president knew about the leak of a CIA agent's identity, but refused to give the same assurances about Vice President Dick Cheney.
"I do not think the president had any knowledge" of the revelation of Valerie Plame Wilson's identity, Scott McClellan said at a House Judiciary committee hearing. "In terms of the vice president, I do not know."
McClellan said the White House is still concealing information about its role in the leak of a CIA agent's identity.
"This matter continues to be investigated by Congress because of what the White House has chosen to conceal from the public," McClellan said. "Despite assurances that the administration would discuss the matter once the Special Counsel had completed his work, the White House has sought to avoid public scrutiny and accountability."

Compiled by Mary Grace Lucas
CNN Washington Bureau
AP: Williams to do `Meet the Press' Sunday
Top NBC anchorman Brian Williams will host the next "Meet the Press" but the network hasn't chosen who will permanently replace Tim Russert, an NBC News spokeswoman said Thursday.
Washington Post: McCain Raises Money the Hard Way
John McCain's campaign treated the news of Barack Obama abandoning the public financing system with the expected disdain, calling it evidence that Obama is "just another typical politician who will do and say whatever is most expedient for Barack Obama."
Chicago Tribune: Without public funding, sky's the limit for Obama
'Raising a half-billion dollars is a very realistic figure for him,' strategist says.
NY Times: For Bush, a New Town, a New Disaster, but Always the Memory of New Orleans
Try as he might, President Bush cannot escape the haunting memory of Hurricane Katrina. Mr. Bush toured flood-stricken areas here on Thursday, the latest in a string of disaster-zone visits he has made in his role as comforter in chief.
CNN: House approves war funding plan
Military operations in Iraq and Afghanistan would be funded into early 2009 under a compromise plan approved Thursday by the U.S. House.

Compiled by Mary Grace Lucas, CNN Washington Bureau
* Sen. John McCain gives an afternoon speech at Chateau Laurier in Ottawa, Canada.
* Sen. Barack Obama holds a morning economic discussion with Democratic governors at Chicago History Museum in Chicago, IL.


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