In a stunning move that was described by one expert as a "Hail Mary" play, John Edwards's campaign said Thursday afternoon that the former North Carolina Democratic senator will accept public matching funds for the 2008 primary season.
A campaign official told The Hill that the campaign would take in about $7 million for the third quarter, which ends at midnight on Sunday. This would bring Edwards to about $30 million for the year, or about $10 million shy of the campaign's $40 million goal to compete in the first four states. All of those totals are well below the record-breaking hauls of Edwards's Democratic rivals, Sens. Hillary Rodham Clinton (N.Y.) and Barack Obama (Ill.). At the end of the second quarter, Edwards had $13.5 million cash on hand. By accepting public funding, the campaign would cap its spending at a sum estimated to be $50 million for the primary.
Tags: John Edwards, public financing