Hey McCain, you’re right. Economics isn’t your strong suit
McCain loan raises FEC questions
WASHINGTON – The government’s top campaign finance regulator says John McCain can’t drop out of the primary election’s public financing system until he answers questions about a loan he obtained to kickstart his once faltering presidential campaign.
Federal Election Commission Chairman David Mason, in a letter to McCain this week, said the all-but-certain Republican nominee needs to assure the commission that he did not use the promise of public money to help secure a $4 million line of credit he obtained in November.
McCain, a longtime advocate of stricter limits on money in politics, was one of the few leading presidential candidates to seek FEC certification for public money during the primaries. The FEC determined that he was entitled to at least $5.8 million. But McCain did not obtain the money, and he notified the FEC earlier this month that he would bypass the system, freeing him from its spending limits.
But just as McCain was beginning to turn his attention to a likely Democratic opponent, Mason, a Republican appointee to the commission, essentially said, “Not so fast.”
By accepting the public money, McCain would be limited to spending about $54 million for the primaries, a ceiling his campaign is near. That would significantly hinder his ability to finance his campaign between now and the Republican National Convention in September.</em>
Busted about your honey, and now you ain’t got no money. Sucks to be you, Straighttalk. He’s the GOP in a nutshell.
