Obama Opts Out Of Public Campaign Finance System

WASHINGTON D.C. (AP) — Democratic presidential candidate Barack Obama says he’ll bypass the federal public financing system in the general election, abandoning an earlier commitment to take the money if his Republican rival did as well.

Obama, who set records raising money in the primary election, will forego more than $84 million that would have been available to him in the general election.

Obama officials said they decided to take that route because McCain is already spending privately raised funds toward the general election campaign.