The 2008 presidential campaign is expected (or feared) to cost upwards of $500 million, for each of the two major parties candidates. $1 billion dollars invested to elect the next president of the United States.

In an ironic twist, the campaign will be so expensive; neither candidate will be able to take advantage of the money offered by (and supplied by our tax dollars) the Presidential Election Campaign Fund. This results from the strict spending and fund raising limits that come with accepting the money and will preclude either candidate from accepting up to $85 million dollars.

Even John McCain (not yet formally announced, but all but certain to run) whose name is tied forever to the McCain-Feingold campaign reform bill is expected to decline the money and run his campaign independently. It should be noted that he did not sign as a supporter of legislation this summer that would have further changed campaign finance.

I have become more and more convinced that campaign finance reform needs to happen, but that we have not yet found the right formula. For those who believe in direct democracy, this would be the perfect candidate for a Citizens Assembly!