McCain Has His Cake and Eats It, Too

Katherine Mangu-Ward

Here's the Sen. John McCain (R-Ariz.) that everyone in Washington knows and loves (or hates, or loves to hate): red-faced and hollering about his favorite topic, campaign finance.

Last week, Sen. Barack Obama (D-Ill.) showed signs of backing off a semi-pledge to accept public financing for the general election. His original statement was not technically a promise. "If I am the Democratic nominee," said Obama, "I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election."

This week, McCain went for the jugular, proclaiming, "I committed to public financing. He committed to public financing. It is not any more complicated than that. I hope he will keep his commitment to the American people."

It's just a coincidence, of course, that McCain is throwing down on this issue right after the Obama campaign raised a massive $35 million during the last month. And when the conventional wisdom says that Obama is positioned to outspend the senator from Arizona.

Candidates who accept public funding for the general election receive a grant of about $85 million from the federal government. In exchange for that pot of gold, candidates essentially forgo all private fundraising, limiting total spending to the government grant. The money comes from citizens who have checked "yes" to contribute $3 to the Presidential Election Campaign Fund on their tax return.

McCain accuses Obama of "Washington doublespeak." But on this particular issue, McCain is a master practitioner. Leaving aside previous legislative ducks and swerves, like his 1995 vote to abolish the public financing system at the presidential level altogether, McCain has had a complex relationship with the public financing of his own campaign in this cycle alone............