Former Sen. John Edwards' (D-N.C.) has decided to accept public funding for the 2008 primary season, becoming the first top-tier presidential candidate to do so, the Hill reported Friday.
By accepting public funding, Edwards would cap his spending at a sum estimated to be 50 million U.S. dollars for the primary, according to the report.
But his aides denied that the candidate is struggling financially, insisting that Edwards's move to public financing is "the right thing to do."
Edwards' campaign said it is on the pace to accomplish the goal of 40 million dollars it set at the beginning of the race.
Experts see the move as a desperate move that will give the campaign an infusion of cash that could help win early states.
However, if these early results are not achieved, Edwards would not be left with enough money to compete later in the race.
In addition, if he became the nominee, the move could also hamstring Edwards's fundraising until the nominating convention.
Edwards raised 9.1 million dollars in the second quarter and 14.1 million dollars in the first quarter, lagging behind Hillary Clinton and Barrack Obama, his two major rivals in the Democratic camp.
Clinton reported raising 36.1 million dollars in the first quarter and 27 million dollars in the second, and Obama reported raising 25.8 million dollars in the first quarter and 33.1 million dollars in the second.
Source: Xinhua
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