Although the Boston Globe is overstating it as a “sign that John McCain is moving toward accepting public financing this fall,” he is clearly leaving the door open to it by returning about $3 million to general election contributors and asking them to write new checks to the campaign’s legal and accounting expense fund.
The Globe, as well as outlets like TPM, imply that the move suggests McCain cannot compete with either of the Democratic candidates (but especially Barack Obama) in fundraising. At Outside the Beltway, James Joyner likens it to unilateral disarmament and believes McCain could compete in the money stakes once the battle is truly joined:
Even with his problems with the base, he’ll be able to raise a couple hundred million if the alternative is Obama; more than that if Clinton somehow gets the nomination.
Team McCain seems less sure about that.ÂÂ
Moreover, what the Globe and others forget (and tellingly soon) is that this tactic would be consistent with McCain’s prior attacks on Obama for allegedly waffling on a promise to opt into the public financing system if they ran in the 2008 general election. The problem for McCain, however, is that the prior kerfuffle demonstrates that Obama likely intends to opt out of the public financing system, given his now-obvious fundraising advantage.
The only thing that would force Obama to reconsider would be if he thought he would pay a political price for doing so. In theory, McCain could use the issue to hit Obama as more “politics as usual” than he pretends to be. In practice, that tactic is likely to be a loser. The number of taxpayers who pay into the Presidential Election Campaign Fund has dropped from 28.7% in 1980 to 7.3% in 2007. If McCain goes for public funding, he can try to make some lemonade with the talking point, but it can hardly be expected to influence any significant number of voters.
(h/t Memeorandum.)
I think it’s just a tad disingenuous for McCain to put forth some kind of image of being devoid of influence from contributors. He has a long senate career behind him, which includes incidents that look shady. That being said, I do not select the option of contributing to the campaign fund. I cannot pretend that there is anyone who could get that far who doesn’t owe someone something, and I’d rather they just got their money the old-fashioned way, lying to contributors.
The bounds of my cynicism expand with every new election cycle. This one has just about removed them entirely.
It has nothing to do with any of that I don’t think. McCain way bad wants public financing of campaigns to be part of his legacy I think. Just a guess, but he rolls like that a lot I think. He’s so disgusting I can’t wait to vote for him.
hf,
I agree that it’s not entirely cynical on McCain’s part. The Keating Five scandal was a near-death experience for him and wounded his honor, so now he’s like one of those people who quits smoking and cannot help but preach the evils of tobacco at every opportunity. Except for Obama, who has started smoking again.
I hears ya, crank.
When was the last time a president got elected by being reasonably honest about what he stood for and where as opposed to being a sound bite pimp?
W Bush ran as a fiscal conservative: BZZZZZT
Clinton ran as a moderate: BZZZZZT
H. W. Bush ran on no new taxes: BZZZZZT
You could make an argument that Reagan, love him or hate him, pretty much did what he said he was going to do.
What do we have now?
McCain is a real conservative: BZZZZZT while conservatives rage in apoplexy over immigration, finance reform and AGW.
Hillary has extensive foreign policy experience: BZZZZZT while ducking snipers in Tuzla. with her 15 year old daughter.
Obama is a non-idealogue who will unite all members of all parties in an orgy of hopeyness …
BZZZZZT BZZZZZT BZZZZZT BZZZZZT
He’s just a typical Chicago machine politician or TCMP.
I don’t know about you but my cynicism is a 500lb gorilla who’s already beaten the crap out of my dog and all of my neighbors.
I see hf’s and Karl’s point, and it makes sense. However, he will not be allowed to forget his past in this election no matter where he gets his financing from now, and I think Keating will be the most prominent weapon. Whether he manages a legacy that quietly papers over the Keating scandal remains to be seen, as they say.
[…] television. Entirely predictable, natch — and as noted earlier — he likely will pay no political price for doing […]