According to Yahoo!News, the end of game...
McCain called his former rival to concede defeat — and the end of his own 10-year quest for the White House. "The American people have spoken, and spoken clearly," McCain told disappointed supporters in Arizona.Have spoken what?
The reported cost of campaigning for President has increased significantly in recent years. One source reported that if the costs for both Democratic and Republican campaigns are added together (for the Presidential primary election, general election, and the political conventions) the costs have more than doubled in only eight years ($448.9 million in 1996, $649.5 million in 2000, and $1.01 billion in 2004).[60] In January 2007, Federal Election Commission Chairman Michael E. Toner estimated the 2008 race will be a $1 billion election, and that to be taken seriously, a candidate needed to raise at least $100 million by the end of 2007.[61]
Although he had said he would not be running for president, published reports indicated that billionaire and New York City mayor Michael Bloomberg had been considering a presidential bid as an independent with up to $1 billion of his own fortune to finance it.[62] Bloomberg ultimately ended this speculation by unequivocally stating that he would not run.[63] Had Bloomberg decided to run, he would not have needed to campaign in the primary elections or participate in the conventions, greatly reducing both the necessary length and cost of his campaign.
With the increase in money, the public financing system funded by the presidential election campaign fund checkoff has not been used by many candidates. John McCain,[64] Tom Tancredo,[65] John Edwards,[66] Chris Dodd,[67] and Joe Biden[68] qualified for and elected to take public funds in the primary. Other major candidates eschewed the low amount of spending permitted, or gave other reasons as in the case of Barack Obama, and have chosen not to participate.
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