Thursday, July 17, 2008

McCain raises $62.5 million through public finance loophole

Hi everybody,

More McCain prevarication... um, I mean dancing. From the Jed Report:
McCain raises $62.5 million through public finance loophole: Tue Jul 15, 11:42 PM PDT

Update: After I posted this entry, I found an article by the WSJ's Todd Farnam reporting on the release of these numbers -- good for him, and good for the WSJ.

Here's a story you can say you read first at The Jed Report: according to FEC reports filed on July 15, through June 30, John McCain had raised at $62.5 million in private funds that can be used for his general election campaign -- even though he's already committed to accepting public funding for the general.

Moreover, based on my own analysis, of that $62.5 million, three-quarters -- $46.3 million -- comes from a total of 1,803 wealthy individuals who made five figure contributions averaging $25,664 each.

So not only is John McCain blatantly violating his public financing pledge, but he's doing it in grand style, raising money in increments of up to $70,000 per donor -- more than thirty times the amount a donor can give to Barack Obama's general election campaign."

I'm going to have to start thinking of new ways not to be surprised.


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