McCain might be out of money..soon.

frasier

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Jul 19, 2006
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In your head
It started here....
http://www.washingtonpost.com/wp-dyn/content/article/2008/02/26/AR2008022603328.html

Wednesday, February 27, 2008; Page A06

Sen. John McCain's campaign and a Bethesda bank strongly defended $4 million in loans yesterday, as Democrats questioned their legality and said that the way they were secured requires the Arizona Republican to abide by federal spending restrictions.

This Story
CAMPAIGN FINANCE: Loans Could Paint McCain Into Corner
Red to Black
Trevor Potter, a former Federal Election Commission chairman who is McCain's lawyer, wrote in a letter to the nation's top election official yesterday that the loans were proper and that they should not prevent McCain from withdrawing from the presidential public financing system.

On Monday, the Democratic National Committee filed a complaint with the FEC arguing that the way the loans were structured -- by using the promise of federal matching funds as collateral -- requires McCain to remain in the system. McCain "secured a $4 million line of credit to keep his campaign afloat by using public financing as collateral. He should follow the law," said Howard Dean, the DNC chairman
..and continues here...
http://blogs.tnr.com/tnr/blogs/the_stump/archive/2008/02/27/john-mccain-is-screwed.aspx

McCain secured two loans totaling about $4 million last fall, apparently using as collateral the federal matching funds he'd receive if he opted to into the public campaign-finance system. But simply by using potential public money as collateral, McCain effectively did opt into the system. That means he effectively agreed to cap his campaign spending at $54 million prior to the GOP convention in September. Alas, McCain had spent $49 million as of January 31. So we're looking at more or less zero permissible spending between now and September. (Since he's surely spent $5 million since January.)
This is ironic, especially after McCain/Feingold..you live by the sword..you die by the sword...
 

train

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Given where things stand can he not mail in the rest of the campaign for the Republican nomination?
 

Asterix

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DonQuixote said:
It will create a huge problem for him. It is reported
the Dems could have a 10-1 spending advantage over
him by the time the conventions occur.
McCain has had money problems for the last year, which makes it all the more amazing he got this far. Contributions to Obama continue to accelerate, largely from small contributors which is what sank Hillary. Once her big money contributors gave what they were willing to, she couldn't go back to the well again. They were tapped out. I also think she is going to lose Texas, a State where she once led by 25 points.
 

lurkerjoe

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Apr 13, 2004
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DonQuixote said:
It will create a huge problem for him. It is reported
the Dems could have a 10-1 spending advantage over
him by the time the conventions occur.
The people that'll be voting for McCain don't read or understand anything on TV so unless the spending is directed to beer vouchers for votes, it won't matter. :D
 
E

enduser1

Ask me if I feel sorry for any candidate running for President!!!!!

EU
 

frasier

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Jul 19, 2006
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DonQuixote said:
In Deap-Throat's infamous words: "Follow the $$$$"

Here's an article posted today that should cause
the GOP to wonder whether they'll be a lopsided
minority in the November elections.

http://news.yahoo.com/s/ap/20080229/ap_on_el_pr/campaign_money

The beginning of the article is as follows:

"For Republicans, watching Hillary Rodham Clinton and Barack
[Hussein] Obama fight for supremacy in fundrasing is not just
a spectator sport. It is a look into the future, and the GOP
isn't chearing.

[Muhammed] Obama and Clinton together raked in as much
as seven times as much cash in February as John [Pablo]
McCain, the all-but-certain Republican nominee.

The Democrats, particularly Obama, are also developing a
broad base of fervent donors whose help goes beyond
sending money.

Some Republicans are sounding alarms.

'Since the midterm election in 2006, Democrats have an
enthusiasm gap with the Republicans said GOP strateist
Scott Reed. "They have big crouds, raise more money and
appear to have more excitement on the campaign trail.
Couple this with turnout numbers, wich are off the charts,
and going to have a big challenge in the fall.'

Good for the Dems. These asshats in the White House have
trashed the Reagan agenda,and are responsible for a slide to
economic poverty for the middle class."

I'll still vote for McCain. I'll be disappointed if/when he loses
but I'll take heart that the arrogant GOP takes it up the arse
with KY jell. They cost me revenue when my clients have
watched their earning power and wealth diminish.

PS: The bracked names Hussein and Mohammed are a mocking
reference to that moron Cunningham.

PPS: Think 9 $Trillion debt and growing. Disgusting.
Who cares about mccain? Personally I hope he loses and further I hope the whole Republican party goes in to the desert for all I care. If you move to the middle you get burned.

...BTW Cunnigham wasn't the first to use Hussein..it was some guy from CO...
 
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