Obama Opts Out of Public Financing

The news is coming fast and furious this morning. It appears that the House Dems have caved on wireless wiretapping and telecom immunity.

But there is good news.

Barack Obama is opting out of the public financing system.

I'd like to support public financing, but Obama's fundraising might be the best thing to happen to American politics since the early 1980's.

The Obama campaign has created a small-donor river of money--95 million in February and March-- that will ultimately allow progressives to be competitive with corporate money in American politics.

If Obama had accepted public financing, the growing power of progressive politics in American society would have been stymied.

Refusing public financing was the right thing to do both for the current campaign and for the future of American politics.