POLITICAL observations & opinions

* McCain can’t match Obama’s fundraising, so he attacks it

Posted by Lew Weinstein on October 19, 2008

AP’s Glen Johnson writes …

  • The vast sums of money Barack Obama is raising for the presidential campaign risk the post-Watergate financing reforms, Republican rival John McCain charged Sunday.
  • Speaking a few hours after Obama’s campaign reported raising a record $150 million in September, McCain said the overall sum the Democrat has raised for his campaign — $605 million — showed the “dam has broken” for future White House races.
  • The Arizona senator has been limited to spending $84 million for the general election campaign after accepting federal funds under a program created after the Watergate scandal.
  • Obama initially indicated he would adhere to the same limit, but reversed course and became the first post-Watergate candidate to finance a general-election campaign with private funding.

LMW COMMENT: Sound like sour grapes? Obama made the right decision; McCain made another of his very wring campaign decision. Now he’s paying the price. Obama has received contributions from over 600,000 individuals., an unprecedented response to an exciting candidate. McCain has nothing left to say but to attack Obama. But Obama is not, like Kerry or Gore, about to take anything. He hits back immediately, and he has the money to do it.

Read the entire article at … http://news.yahoo.com/s/ap/20081019/ap_on_el_pr/mccain_29

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