Thursday, February 21, 2008

John McCain Has Other Problems: Financing


Photo from source, Guardian

One of the more frustrating things about politics in America, is what we have grown to accept as voters. There is a great deal of spin, half-truths and outright lies that we not only endure, we expect and even accept it. And I'm not just talking about the flip-flops on policy issues.

A candidate says they're staying in to the finish, then the very next day drops out of the race. A candidate says they won't accept lobbying money, then the next day we find out they've taken plenty. John McCain said he was going to use public funding for his campaign, but when he had a resurgence, that was a little financially binding, so he's trying to back away from it. And while we as a public just shrug and say "politics as usual," the FEC might not be so forgiving. Good.

[Excerpt]

McCain draws scrutiny over $1m loan to campaign

John McCain's campaign today is drawing unwelcome scrutiny from the agency that monitors US elections in a dispute that could reverberate if he faces Barack Obama in November's general election.

The Federal Election Commission (FEC) released a letter to McCain today that questions his ability to withdraw from the presidential public financing system – and avoid the spending limits that come with it. The FEC asked McCain to explain whether he used public funds as collateral for a $1m bank loan last month, a move that would commit him to a taxpayer-funded campaign. . .

Read more at: Guardian

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