Before I left for school earlier this month, Barack Obama was in the news. The hype about his potential was all over the place. There are people talking about him becoming our next president. We'll see about that.
From the Chicago Sun-Times, Barack Obama created a political action committee,
"Obama is calling his PAC the HOPE fund. It's common for ambitious members of Congress to create such funds -- called leadership PACs -- that allow donors to contribute outside the confines of rules governing donations to House and Senate races. The money is often used to pick up chits through donations to the campaigns of other Democrats."
Perhaps this is a first step in any of his future designs whether it is for the Presidency or anything else he wanted. But for now the basic use of this PAC is to help other Democrats around the country.
If you don't know what a chit is hopefully this will help your understanding...
Chit (noun) A Brownie point: earned vital chits with his party by making fundraising speeches. from the American Heritage Dictionary
3 hours ago