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
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: