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Team Obama in a video sent to supporters has opted out of the Presidential public funding system. This is a reversal of his previous statements to the contrary. The video announcement is here.

His broken promise: “I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election.”

Says he made the decision because the financing system is “broken,” and McCain and the RNC will be fueled by contributions from lobbyists and PACs.

Though adds “It’s not an easy decision because I support a robust system of public financing of elections.”

The fact is Obama has raised a ton of money on the internet and does not wish to be constrained by the federal spending limits.

Will this spell trouble for John McCain and the GOP?

You bet since McCain has NOT been able to tap into GOP donors, particularly those of President Bush.

And, what will the increased funds do for Obama besides money for more print advertising and television commercials?

Answer: The Democrats and Obama will be able to hire MORE field workers to register people to vote in key demographics, and better track THEIR voters – in MORE states.