Though the campaign says it ain't gonna happen, some Kerry folks are apparently examining the idea of opting out of the public financing system this fall.

Aside from a level of confidence that comes with Mr. Kerry's fund-raising prowess, two concerns motivate the calls to forgo public financing. One is that with public financing Mr. Kerry is limited to spending the $75 million over three months while Mr. Bush can spend the same amount over two months. The clock starts with each candidate's official nomination. Mr. Bush is accepting on Sept. 2, and Mr. Kerry on July 29.

Another fear is that Mr. Kerry will accept public financing only to watch Mr. Bush, whose fund-raising topped his, later opt out of the program.

"Bush can decide that he ain't going to do federal funding,'' said Tony Coelho, who for a time managed Al Gore's campaign in 2000 and is now urging Mr. Kerry to consider forgoing public money. "He can go and spend $200 million, which he could raise. And Kerry would be stuck at $75 million."

Mr. Coelho said Mr. Bush should be asked for a formal promise to use public financing. Officials at Mr. Bush's campaign said they would not address such a hypothetical situation. A spokeswoman for the Bush campaign, Nicolle Devenish, said, "We have no plans of opting out of public financing."

As the article goes on to explain, there are some real downsides to this idea, including doubts about whether fundraising is really the highest, best use of the candidates' time between now and Nov. 2, and the possibility of a major terrorist attack, which could bring down the Internet and/or the US Postal Service. Still, I'm glad somebody is at least looking at the alternatives, particularly since the Bushies, who have shown a real taste for the jugular over the years, are unwilling to address this decidedly non-hypothetical "hypothetical situation" until Kerry has boxed himself in.

UPDATE: And that's what I get for not keeping up with my blog-reading: Kaus covered much of the same ground, and in some detail, days ago.... (Via Glenn Reynolds.)

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