When John McCain co-authored the McCain-Feingold campaign-finance law he probably didn’t envision it helping him lose his run for the presidency in 2008, but such is the law of unintended consequences. McCain-Feingold restricted large donors from taking out ads in support of candidate and issues. This mainly penalized corporate donors. When Obama reneged on his commitment to participate in federal financing for his general election campaign, McCain was left holding the bag. He was restricted as to how much money he could spend. If his law hadn’t existed, he would have been able to get around that problem and match Obama’s media saturation.
The McCain-Feingold campaign-finance law was unconstitutional on its face, and no true conservative could believe it when President Bush signed it into “law.” Even though our representatives swear an oath to defend the constitution, they continually pass laws that subvert it. One of the only remedies to this is the courts, and finally today the SCOTUS essentially nullified the law in a 5 to 4 decision.
Predictably, some of the left are already attacking the decision as handing elections over to big business and the “fat cats”. The truth is, in an age where capitalism is on the defensive as the administration seeks to hamstring it at all costs, lifting the ban will allow corporations to defend themselves against anti-business laws and candidates.
With unemployment “unexpectedly” rising yet again, and the administration continuing to hinder recovery through more inflationary and anti-business policies, this is yet another blow to the anti-capitalists who were savoring the near collapse of the system last year and are trying to hasten its total demise.
What do you know? “Change” is a two way street. Can’t wait to hear Keith Olbermann’s “Special Comment” on the subject tonight on Countdown.
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