The current Presidential election is the first one in which two non-incumbents face each other under the McCain-Feingold Campaign Finance Reform law, technically known as the Bipartisan Campaign Reform Act.How well it is working is largely summed up in the International Herald Tribune .Barack Obama is days away from breaking the $188 million advertising spending record set by President George W. Bush in his re-election campaign in 2004, having unleashed an advertising campaign of a scale and complexity unrivaled in the television era.Obama, the Democratic candidate, is now running at least four times as much advertising nationwide as his Republican rival, John McCain.The huge gap has been made possible by Obama's decision to opt out of the federal campaign finance system... McCain is participating in the system.Obama, who at one point promised to participate in it before changing his mind, is expected to announce in the next few days that he raised more than $100 million in...(Read Full Post)