12 Nov 2008

Campaign Finance Reform in Action

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The Politico blog describes government in action enforcing honesty and fairness in campaign finance. John McCain should be proud of his own contributions to the present system.

The Federal Election Commission is unlikely to conduct a potentially embarrassing audit of how Barack Obama raised and spent his presidential campaign’s record-shattering windfall, despite allegations of questionable donations and accounting that had the McCain campaign crying foul.

Adding insult to injury for Republicans: The FEC is obligated to complete a rigorous audit of McCain’s campaign coffers, which will take months, if not years, and cost McCain millions of dollars to defend.

Obama is expected to escape that level of scrutiny mostly because he declined an $84 million public grant for his campaign that automatically triggers an audit and because the sheer volume of cash he raised and spent minimizes the significance of his errors. Another factor: The FEC, which would have to vote to launch an audit, is prone to deadlocking on issues that inordinately impact one party or the other – like approving a messy and high-profile probe of a sitting president.

McCain, on the other hand, accepted the $84 million in taxpayer money, which not only barred him from raising or spending more – allowing Obama to fund many times more ads and ground operations – but also will keep his lawyers busy for a couple years explaining how every penny was spent.

Through the end of September, McCain had socked away $9.4 million in a special fund to pay for the audit.

The Obama campaign does not expect to be audited, but spokesman Ben LaBolt said it would be ready in the event it is.

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