OBAMA'S PUBLIC FINANCING CHOICE.

Barack Obama made a smart, cagey move today by announcing that he will forgo public financing -- before John McCain made a final decision on the question. The candidates had previously pledged to meet the other on public funding, but that's a plan that would have benefited McCain, due to the RNC's greater fundraising capacity and larger, more aggressive network of 527 groups. By being first out of the gate saying he'll fund his campaign privately, Obama can somewhat avoid being labeled a hypocrite who backed out of a pledge that would have left him disadvantaged. And of course, it's Obama who has the greater capacity to fundraise online among supporters.

--Dana Goldstein