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Barack Obama opted not to take federal campaign financing in the general election in June 2008 and was the first candidate to do so since passage of the campaign finance law in the 1970s. At that point, his campaign had set records raising money, perhaps $265 million, during the primaries. This was accomplished by combining traditional and internet fund raising strategies. Accepting public funds would have limited his campaign to $84.1 million. Critics have argued that this represents a policy reversal as he had previously been a strong supporter of the public financing system. His response has been that this system is "broken". As an example, while both President Bush and Senator Kerry complied with the federal law in the 2004 campaign, both the Republican and Democratic parties raised and spent millions on their own in advertising that was significantly slanted toward their respective candidates. In addition, the campaign law provides no control over what outside groups can raise and spend. In the best known case, one anti-Kerry group produced the "Swift Boat" ads that relentlessly attacked his record of service in Vietnam.

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