McCain Broke the Law He Wrote

Oh, the hypocrisy:

McCain publicly declared that he would accept the matching funds (and therefore abide by the spending limits). But since he was broke, he had to go to a bank and secure a loan under dubious conditions. Since he appears to have secured the loan by using his eligibility to accept the federal matching funds, it seems fairly clear that he is committed to the federal matching funds system.

The DNC's complaint will allege the following. Fist, that McCain used his status as a candidate operating under the federal matching fund program to gain access on state ballots without having to spend any money to submit signatures....

That is a material gain from pledging to accept the matching funds. Another material gain from pledging to accept the matching funds is the ability to use his eligibility as collateral, which he did to secure his loan.

Finally, by receiving these material benefits from his pledge to enter the matching funds system, he is bound to abide by the spending limits. The matching funds program requires one to spend no more than approximately $57 million dollars for the entire campaign up until he officially becomes the nominee in September. Through January, he had already spent over $46 million.