Prometheus 6

Uneven Match
The McCain case illustrates the need to update public campaign funding.
Monday, March 10, 2008; A14

BACK WHEN his presidential campaign was running on fumes, Sen. John McCain (R-Ariz.) applied to participate in the system to provide public matching funds to primary candidates who agree to abide by spending limits. The Federal Election Commission certified Mr. McCain's eligibility to receive the funds, but -- his fortunes having undergone an astonishing reversal -- Mr. McCain decided not to take them after all. That's neither surprising nor hypocritical.

What is hypocritical is demanding that Sen. Obama accept limits that he himself is trying to avoid.

The wrinkle in Mr. McCain's case is twofold. First, the FEC is, literally, non-functional. 

So what? That would literally have never have come up if it weren't for...

Second, and more problematic, is the question of whether Mr. McCain used his eligibility for matching funds as collateral for a $4 million loan; if so, Mr. McCain would be deemed to have used the matching fund program to his financial advantage, even without having received any money, and so would be bound by the spending limits.

Of course he used the promise of public funding to get that loan.

Mr. McCain didn't directly pledge the expected matching funds as security, but he did promise that if his campaign went badly, he would stay in the race and seek matching funds in order to be able to repay the bank. The McCain campaign and the bank say that this does not rise to the level of using the FEC certification as collateral for the loan and that they were careful to avoid that trap.

Only the most generous (and blind) interpretation of these weasel words could come to any othewrt conclusion. 

We understand Democrats' urge to derive a political advantage from this situation, but consider: Would the country really be better off with a system that would allow one party's nominee to spend unlimited amounts while the other -- not having taken a dime in public funds -- is hobbled by spending constraints for the rest of the supposed primary season, which stretches until the conventions in late August and early September? 

In this case, yes. You alreasdy see he's as willing as Bush to hyperparse. You don't want and old weasel for your President