December 28, 2007

McCain Not Taking Federal Matching Funds

Ambinder sets the record straight:

Rumor: McCain has formally accepted federal financing for his primary campaign and thus is subject to its limits…

Fact: McCain has secured a loan using his campaign’s assets as collateral…but not future funds from the federal match… and has not opted in to the nomination funding system. The FEC has approved million of dollars worth of matching funds, but McCain can’t spend them until March and hasn’t decided whether he’ll need to.

by @ 4:24 pm. Filed under Fundraising
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20 Responses to “McCain Not Taking Federal Matching Funds”

  1. Abe Says:

    ……

    YET…………

  2. LJ Says:

    Well, in 2000, McCain raised over a million in one night online after winning New Hampshire ($10 million for the following month). Over the past 2 weeks his campaign has raised quite a bit of money. McCain’s campaign is also negotiating a massive Straight Talk Express bus fleet (between 14-18 buses) for Iowa, New Hampshire, South Carolina and Michigan. Those things aren’t cheap.

    Given all that, there’s really no reason to take matching funds.

  3. Patrick Says:

    LJ,

    Are there any estimates on just how much he’s raised over the last couple weeks?

  4. Jeff Fuller Says:

    Patrick,.

    Are there any estimates on just how much he’s raised over the last couple weeks?

    Not enough to win . . . without the shameless MSM pumping up his candidacy (which support will mysteriously vanish should he be the GOP nominee.

  5. Patrick Says:

    Typical Romney supporter…turning a legitimate question into a McCain-slam.

    And you know, we all realize the MSM has a liberal bias. That’s not in question. But have you ever stopped to wonder why they like McCain? It’s not because he’s a liberal. Anyone who truly believes he’s a liberal doesn’t understand the meaning of the word.

    They like McCain because he’s upfront with them, and answers their questions. How many reports do you hear that McCain takes questions until people run out of them? Reporters like him because he’s accessible and doesn’t come across as a cardboard cut-out.

    How many of you Romney supporters have actually *dealt* with the man outside of a campaign atmosphere? He’s demonstrated that he will say or do anything to get elected. Well I have dealt with him when he’s already elected, and he’s an asshole. Plain and simple. He refuses to entertain any opinion that is not from his own circle of sycophants. He won’t even explore other alternatives. What sort of leader is that?

    Simply put, I don’t trust – and the vast majority of Americans will agree with me – someone who is as polished as Slick Mitt. Real people, real Americans, are not perfect. Enter John McCain. Is he perfect? No, he’s not. But he’s *real*, which is more than can be said for Governor Mitt Romney. I voted for the man once. I will never, ever do so again.

  6. Jordan Says:

    Speaking of Romney… This is really ironic… But the Boston Herald is reporting that a probe by the current administration has faulted an administrative breakdown under Romney for the early release of a man who went on to murder a newlywed couple in Washington State:

    http://www.bostonherald.com/news/national/politics/2008/view.bg?articleid=1063236

    All his efforts to keep a perfect political record and deny all those pardons and commutations. Wasted.

    I’ll give him the benefit of the doubt and wait to hear his response… But from a pure standpoint of irony, this is pretty rich.

  7. Abe Says:

    Patrick,

    “But he’s *real*, which is more than can be said for Governor Mitt Romney.”

    Shhhhhhh……Don’t let anyone know…..

    Romney is a mutant, alien, human-ish looking, borg-ish, robot, being from Mars or….Uhh….Hell….

  8. LJ Says:

    Patrick,

    None that I can say publicly. But there’s only 3 more days left in the 4th quarter so the numbers will be released after New Year’s, I’d assume.

  9. Paul S Says:

    Abe,

    Is there still going to be a Huck-a-bust?

    LOL

  10. alaska jake Says:

    Jordon. . .read the Boston Globe account for a more accurate story.

    http://www.boston.com/news/local/massachusetts/articles/2007/12/28/romney_administration_could_have_kept_killer_behind_bars/

    Ironically, the Globe of all papers gets the story right. It wasn’t a “Romney Administration” mistake, as the Herald likes to say repeatedly. It was a Department of Corrections superintendent who failed to file the correct paperwork to keep the guy in prison an extra year. The state has a 60-day rule to get the paperwork filed, but the DOC official never got it in. He is no longer working in the prison system. As Romney’s spokesman says, the governor doesn’t keep individual prisoner records under his control. The problems, incidentally, were not ocurring solely under Romney’s watch either. It’s been an issue going back to Gov. Bill Weld, and continued until just recently under Gov. Deval Patrick, five governors’ administrations in all. Only now are they trying to rescind that 60-day rule.

  11. FCOH Says:

    The wheels are falling off of the McBus

  12. imwithmccain Says:

    See you Romney drones – I told you no matching funds. December will be an awesome fund raising month for Senator McCain. Unlike Mitt Flip Flopper Romney who has to loan his campaign millions and millions of dollars to keep his campaign going, McCain will raise money from people that want to see him win.

  13. cwpete Says:

    Question: How is McCain going to repay what he has borrowed?

    Answer: By way of federal matching funds provided some fund raising miracle.

    Either way you look at it. McCain’s hands will be tied.

  14. Don Says:

    In my experience, the guy who keeps saying, “trust me, I’m honest”, is the last guy we should trust.

  15. BarkTwiggs Says:

    Sounds like McCain is shooting the moon, all or nothing.

  16. John Galt Says:

    so he’s in debt, great. wonderful way to start taking on hillary when the general starts.

  17. cwpete Says:

    BarkTwiggs:

    “Sounds like McCain is shooting the moon, all or nothing.”

    Yes, he is. If he falls short, Our taxes can bail him out of his loan(s) by way of Federal matching funds.

    If he wins and does not get a huge windfall of new donations, then federal matching funds will bail him out.

    If he takes matching funds up against a Clinton or an Obama who will have tens of Millions more, John McCain will be a very weak general election candidate.

  18. LJ Says:

    John Galt,

    McCain took out a $5 million loan. Romney has loan himself well over $20 million so far during the past year.

  19. LJ Says:

    loaned*

  20. alaska jake Says:

    Who cares how they get money in the primaries? Once the general campaign begins, money will flow into whoever our candidate is. This is unfamiliar territory for the GOP, which usually finds itself with one or two main candidates who rack up huge war chests by the time the primaries start. Not this year. Right now, there are so many viable candidates to split the available funds. What we’re seeing is some funds being split among 6 candidates (including Paul), with a lot of funds being withheld until either the voters finally settle on a candidate (many are still undecided) or the field narrows down. Either of those two conditions will take place over the next few weeks, and we’ll see more cash go to the top guys.

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