• John McCain Snubs Mitt Romney by Giving Leftover Funds to Charity

    While some presidential candidates accrue millions of dollars in campaign debt, others like Sen. John McCain in 2008 are left with a surfeit of cash.

    It's up to the campaign to decide what to do with all that extra money, but two of the most popular options are to give it to other candidates or to federal or state parties. When disposing of his campaign's excess funds recently, McCain chose neither option

    The dormant 2008 presidential apparatus of Sen. John McCain liquidated nearly $9 million in donations by giving the money to a charity bearing the Arizona senator's name this year, filings showed Tuesday…

    The money could have gone to the RNC to support candidates including former Massachusetts Gov. Mitt Romney, the Republican party's presumptive nominee for the 2012 presidential race. The Republican and Democratic national party committees, which can accept larger contributions than candidates' campaigns, typically function as the piggy banks for their nominees.

    Transferring the remaining 2008 funds to the RNC would have allowed it to pay off nearly all of its $10.9 million in debt — a heavy burden it is carrying as it prepares for general election mode.

    Even if McCain was intent on donating the money to charity, he still could have given it to Romney and the GOP. After all the damage Republicans have done to their party over the course of the 2012 primary, the RNC should count as a needy charity.

    The eponymous organization to which MCain gave his money is called the McCain Institute Foundation. Institute Foundation? In that case, it should really be called the McCain Institute Foundation for Redundancy. Or perhaps the McCain Institute Foundation for Politicians Who Can't Read Good.

    Photo by Mark Wilson/Getty Images News/Getty Images


    Tags: Debt, Fundraising, John McCain, Mitt Romney, Money, Republican National Convention

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