by Michael J. Malbin
The thirty-year-old system for funding presidential nomination contests that seemed to work well for 20 years is now failing. This year, both major parties’ nominees rejected public matching funds; the legal ceilings for campaign spending are simply too low and inflexible. In addition, the public funding formula has failed to empower average donors, and the Presidential Election Campaign Fund cannot make timely payments because not enough people check the box on their income tax forms to pay for the program. Those who believe the system is worth saving should start thinking about the alternatives, soon.