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Obama Nets Millionth Donor; Makes Public Financing Irrelevant?

— By Jonathan Stein | Wed February 27, 2008 11:09 AM PST

In an impressive feat, Barack Obama has surpassed the one-million donor mark. Marc Ambinder has a pretty good explanation for why that negates all of John McCain's bellyaching about Obama reneging on his public financing pledge.

In essence, the argument is: when one million people donate to your campaign in increments of roughly $110 each, that is public financing.

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