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For the general election, both McCain and Democrat Barack Obama have not formally committed to public financing -- unlike every other major party presidential candidate since the 1970s Watergate reforms -- and it appears unlikely they will do so.
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McCain should go for it. He's going to lose anyway. He's been setup to lose. I can't find a single republican friend here who thinks he has a shot in hell. Getting to run was a retirement president, and an apology for all the dirty smears he got from Karl Rove's goons in 2000.