Senator Barack Obama has decided to forgo public financing of his Presidential campaign. Already John McCain is trying to use this decision to his advantage by calling Obama a 'flip-flopper'. The truth is John McCain refused to participate by conditions to be negotiated by both sides. McCain - like many other Republicans before him - will allow "independent" 527's to raise millions of dollars to run smear campaigns against Obama.

Obama has already asked 527's and PAC's to instead send donors to his campaign and has been successful at putting the brakes on many independent efforts - McCain doesn't wield that same power.

That is one of the reasons that Obama has decided to side with another type of public financing - that of millions of Americans giving what they can. He doesn't accept money from lobbyists or special interest PAC's.

You can hear him in his own words below talking about his decision.