"Yet every four years, the government sponsors an extravagant party and job fair—at taxpayer expense—for a handful of the wealthiest and most powerful Americans. It's called the Presidential Election Campaign Fund, and it uses taxpayer money to subsidize presidential candidates and nominating conventions.
The fund was first authorized in 1971 to limit campaign spending, crack down on corruption by reducing private contributions to candidates, and make it easier for both voters and candidates to participate in presidential elections. Four decades later, the fund's track record respective to each of these goals is, in order: utter failure, irrelevance, and total obsolescence."
Barack Obama's $745 Million 2008 Campaign Ended Public Financing
US News and World Report:
