McCain has asked to withdraw from the Federal Campaign fund, but since there are four vacancies on the FEC, there aren't enough votes to release him, and he's already near the 54 million dollar limit, which means he should stop all advertising until the convention.
This gets pretty good.


FEC Warns McCain on Campaign Spending - washingtonpost.com

__________________
“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

Adam Smith , The Wealth of Nations 1776

"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address

Could get real interesting. By the time the Conv. comes around people will have forgotten who he is.

Am I missing something?
I read the article, and (although nowhere near as bad) this smells like yesterday's NYT article.
From what I just read no one from the FEC said anything, only a couple people said the FEC should do something.
The article title therefore is a hatchet job.

McCain is under the Federal Campaign Finance rules, he used the pledge of Federal money to get a bank loan, that means he can't spend more than 54 million in the primary, which he has just about done.
There isn't an FEC now, since 4 seats are vacant, so the FEC can't release him from his legal obligation.
That means he has to stop spending money from now til the convention.

This is a Republican appointed Commissioner who's telling him this.


McCain says he never took any federal money, but the FEC says he used the pledge of Federal money to obtain a bank loan, and that counts, so he's in the system.

The questioning the FEC is doing is that McCain claims the rules don't apply to him because he hasn't taken any money, the FEC says his loan was secured using a pledge of Federal money. The headline isn't misleading.

__________________
“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

Adam Smith , The Wealth of Nations 1776

"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address

I beg to differ - your "headline" is accurate, you used the word "question" - washington post used the word "warns" - biiig difference in that word's insinuation.

Well there is a question, if McCain follows the course his campaign indicates he will follow, he'll be subject to a criminal charge that carries a five year prison term.
Charges that could be brought during the general election campaign.

The funny thing is that Bush and Senate are in a little battle over FEC commissioners, with the Senate refusing to vote on the Bush nominees.
So without a quorum, the FEC can't vote to accept McCain's withdrawal from
the system, which he did sign up for.
So unless Bush gives up on appointing FEC commissioners that are unacceptable to the Senate, he may be silencing the GOP nominee.

Now this isn't a Democratic dirty trick, it's a Republican appointee who's making the stink about this.
McCain has already spent over 49 million, so if he does get capped at 54 million, you won't see much "straight talk", til after the convention.

__________________
“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

Adam Smith , The Wealth of Nations 1776

"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address

I am not defending McCain...he is after all a politician...the reason McCain wants Obama to agree to Federal financing is multi-faceted, that's for sure.

It's a bizarre turn of events for a guy who has always publicly championed campaign financing reform, and after decades of championing reform, the system is so convoluted that the guy who has been in the very middle of any campaign reform legislation for decades, isn't sure what the law means.

Of course McCain would like Obama to stick with public financing, that would put them on an even money footing for the general election, but if they opt out, which Obama will probably do, because Obama can raise twice as much money as McCain, which is more than enough to smooth over the "broken promise of adhering to spending limits" charge.
And McCain loses the moral high ground on that one by trying to back out in the primary when it's to his advantage.

This is one I truly never saw coming, which makes it so fresh.......

__________________
“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”

Adam Smith , The Wealth of Nations 1776

"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address

if I recall, obama already said months back he wanted to abide by fed. campaign financing......mcCain is letting him off the hook perhaps..as I don't see obama agreeing to follow that promise...I could be wrong of course but...

__________________
No individual can plan his own existence in their view.

So the state planners must arrogate to themselves the right to manipulate any sector of the economic system if the good of “society” or the “general welfare” is paramount.

Ipso- if the rights of the individual get in the way, the rights of the individual must be sublimated.

The Road to Serfdom
FA Hayek (interpretation)


Mortgage Backed Security survivor

Here's what he said:

http://media.washingtonpost.com/wp-s...a_02192008.pdf

__________________
When they come a wull staun ma groon
Staun ma groon al nae be afraid
Thoughts awe hame tak awa ma fear
Sweat an bluid hide ma veil awe tears

kay then mccain may be makig a tactical mistake.....if I have this right, they have to use a fixed amouunt...and not donations? Or? I am ignorant this point obviously...

__________________
No individual can plan his own existence in their view.

So the state planners must arrogate to themselves the right to manipulate any sector of the economic system if the good of “society” or the “general welfare” is paramount.

Ipso- if the rights of the individual get in the way, the rights of the individual must be sublimated.

The Road to Serfdom
FA Hayek (interpretation)


Mortgage Backed Security survivor

I think that they can accept some contributions, but the limits are pretty strict.

Unfortunately, the 527s aren't limited, and they're the ones that are really out of control.

It'd be fascinating to see what'd happen with limited spending by both candidates.

__________________
When they come a wull staun ma groon
Staun ma groon al nae be afraid
Thoughts awe hame tak awa ma fear
Sweat an bluid hide ma veil awe tears

Maybe it means they have too stop wasting money attacking each other and spend money actually talking about the issues. That would be a first

More likely they will spend more money attacking and less on the issues.

Hard to say. I could see it going either way.

__________________
When they come a wull staun ma groon
Staun ma groon al nae be afraid
Thoughts awe hame tak awa ma fear
Sweat an bluid hide ma veil awe tears