Will 2012 Be the End of the Presidential Public Financing System?

by Tarini Parti

It happened with typewriters, eight-tracks, VCRs and even flip-phones.

Now advocates for the public financing of political campaigns fear that the system once used by most presidential candidates could also become irrelevant without an upgrade.

The public funding program was established in 1976 as a response to Watergate scandal. It has seen few changes during the 30 years it has been used. And as historic levels of money pour into campaign coffers -- and outside groups gain increased freedom to spend unlimited amounts of cash on advertisements of their own -- more and more presidential candidates are choosing to fund their campaigns with private contributions.