Stop and think about this for a second and think about this: Candidate Foghorn Longhorn can go out there and ask his constituents for money. Longhorn can beg for money saying, ?I need money to do this!? And he gets people bringing him money by the millions. Then Foghorn Longhorn goes out there and borrows $8 million to buy whatever he wants to buy, and up till McCain-Feingold he could legally use that money, your contributions, to pay back a personal loan that has nothing to do with his campaign.
So McCain-Feingold comes along to “reform” this practice, and now the limit is $250,000. He can only use campaign funds to pay back a mere quarter of a million dollars from that personal loan. How about $0? Who else can do anything like this? How about no campaign donations being used to pay off personal loans ever? That would be only logical. The story continues, ?The new rules mean Kerry will either have to siphon money from his war chest at the height of the presidential campaign – perhaps troubling donors who want their cash to go to defeating President Bush – or foot the bill himself. Kerry’s $150,000 senatorial salary won’t cover the annual loan payments.?
I think the Herald is missing a point that William Buckley made when he wrote his original story, and that is the whole loan will be paid off by donors, that donors were well aware of what this was: an image loan. It was a loan designed to show Kerry is not an elitist money guy and that there are people donating to him. He’s probably going to some of these people who he calls Benedict Arnolds and saying:
You know what? I need to make this loan look like I don’t have a lot of money. Since I don’t have a lot of money on my own, since it’s all my wife’s and she’s still alive, I’m going to need you to pay it back for me. This is a necessary step so that I can become president of this country and lead us to the Promised Land. I’m sure some of these Benedict Arnold company guys are saying, “Whatever it takes, John! Whatever it takes!” because they know they will have their hand in the Oval Office if he gets elected. It’s a cheap price to pay to go in there and be able to set policy with a guy who doesn’t care what that policy is, as long as he’s on both sides of it.