I think it is ironic that McCain may be suffering a possible defeat partially because of his own McCain Feingold Campaign reform act.
Most campaign reform acts have tried to neutralize the effect of money in a campaign and the goal often conflicts with the right of free speech to say what you want. The McCain Feingold sought to restrict the impact of soft money, money spent by party committees not restricted by campaign finance regulations; and the effect of issue ads not associated with a particular party but strongly insinuating the stand by a party. NRA, Prolife or an anti war ad may be an issue ad that is not directly supported by a candidate.
But the latest of campaign reform did not remove the impact of money from campaigns. Far from it. Obama lied when he said he would not opt out of public financing. He also lied when he indicated he was concerned about being ‘swift boated’, since that was outlawed by McCain’s own bill. Obama has also refused to release his campaign contributors as McCain has. Obama has tried to distance himself from Acorn’s massive voter fraud even though his campaign gave them $800,000. All we hear is that the average contribution is only $86 as if that somehow justifies hiding the source.
23 contributions of $5 plus one contribution of $2000 is an average of $88. Have you heard of bundling? If the Republicans had opted out and raised such a sum the media would have complained about it being the party of the rich. There is no outrage for Obama’s fundraising prowess, we are told because it has come from small contributions. Obama has received his share of large contributions as well.
What is troubling is that under the current campaign law, contributions under $200 are not reportable. Yet McCain has reported ALL of his contributors; Obama has not. These contributions are almost impossible to monitor for their legality.
Obama’s huge financing edge aided by Acorn’s campaign fraud has given him an edge. Yet historically money matters very little beyond a point. One has to admit that the Republican brand is so tarnished that Obama is fortuitous to run when he has.
If he forgets that when he is elected he may find his tenure to be very short. If he governs too close to the center, his biggest enemy may be the far left looking for payback.