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Cindy McCain Won't Fund Husband's Bid

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October 29, 2007 2:45 PM

ABC News' Cynthia McFadden and Rick Klein Report: Sen. John McCain's wife, Cindy, is ruling out making personal financial contributions to her husband's struggling campaign for president, saying that the she and her husband are committed to funding his race via small contributions from donors.

In an interview to air on ABC's "Nightline" Tuesday night, Cindy McCain said they will not reconsider that decision, even though McCain, R-Ariz., is contemplating taking public financing to help keep his campaign afloat.

"I haven't put any money into the campaign -- my husband has never believed that we should do that," Mrs. McCain says. "He has always said, you know, 'I run on my own merits, and if I cant convince the people that I'm the guy, we're not going to do it by, you know we don’t need to do it by [self-funding the campaign.]' We need to convince everybody else that we’re the right family and he’s the right guy for this."

Asked if using personal funds would be like "trying to buy" the presidency, McCain responded: "Yeah. Yeah, we wouldn’t do that so it -- we never have done it. We have a record in the history for that so it's just part of [that.]"

Cindy McCain is the biggest stockholder and chairman of the board of Hensley & Co., one of the nation's largest Anheuser-Busch distributors. Her fortune is the bulk of the estimated $25 million to $38 million that the couple is worth.

Federal law limits candidates' spouses to contributing no more than $2,300 to campaigns -- the same limit that applies to all other individuals. But by borrowing against shared assets, candidates can use their spouses' wealth to provide considerably more help.

One of McCain's rivals for the GOP nomination, former governor Mitt Romney, R-Mass., has already put in $17.5 million of his own money to fund his bid. McCain told the New York Times Magazine in July that while he wouldn't criticize other candidates for spending their own money, he felt that getting small donations is "part of whether you can succeed or fail."

"I should be able to raise my own money from contributors or take matching funds according to the law, not dip into my wife’s assets," McCain said.

With McCain's campaign carrying about as much debt as he has cash on hand, he is considering taking federal matching funds for his run. Such a decision, however, limits the money available to him in early-voting states.

October 29, 2007 in Vote 2008: Republicans | Permalink | User Comments (18)

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User Comments

Actually,I applaud her decision.If her husband isn't a viable candidate,he wont get funding.Period.But,if she uses her consuderable financial assests,isnt that *buying votes*.Kudos Mrs.McCain

Posted by: whistlebeforedawn | Oct 29, 2007 4:35:09 PM

Sen. McCain may not like this comment but, Cindy's a scrooge!

Posted by: jade02008 | Oct 29, 2007 4:37:20 PM

It really bums me out that McCain won't use this to hit Romney. Not self-financing shows principle, something Romney knows nothing about. I'm actually really surprised no GOP candidate has gone after Romney for trying to "buy" the election. It seems undemocratic to me that someone who is filthy rich gains an advantage that 99% of America will never and can never have.

Posted by: Tyler | Oct 29, 2007 4:40:11 PM

Why bet on a loser? Perhaps Mrs. McCain can't see any sense in throwing her money down the toilet.

Posted by: Rickster | Oct 29, 2007 4:51:08 PM

We the people should write off the top campaign fund raisers of both parties. They will be so in dept to contributors, they won’t be able to do the peoples business.
They tell us we live in the age of information, so get with the millennia already. If I was running for the job, I would be on talk shows, TV interviews, YouTube and all the other free places of publicity. Sure they would face tough questioning, but that shouldn’t concern a candidate who speaks from their soul.

Posted by: ToeNee | Oct 29, 2007 4:51:26 PM

This article fails to mention that Mitt Romney has raised more from individual contributors than any other GOP candidate in the race and that he has raised about $14,000,000 more than John McCain. That's not including Romney's personal contributions.

Posted by: Clark Washington | Oct 29, 2007 4:58:07 PM

So.... John McCain likes wasting other people's money, but not his wife's money.

Just like rich people, they want your money but they can't stand the thought of paying their own bills.


Posted by: Nobody | Oct 29, 2007 5:35:36 PM

if she ain't backin' her own pony, no reason for me to.....

Posted by: TonyFacade | Oct 29, 2007 7:57:49 PM

She knows he won't win...so why waste the money? That's why Romney's having to finance his own campaign too...nobody else wants to waste their money on a loser.

Posted by: wilder5121 | Oct 29, 2007 10:03:29 PM

Interesting! He just recently made a statement about his Southern Baptist Faith. One of the core planks of the Covenant of most Southern Baptist Churches is that members will neither partake of nor sell alcoholic beverages. That tells us something, doesn't it?

Posted by: parson | Oct 29, 2007 11:27:09 PM

McCain has set values and no doubt will inspire all what it takes to win and to wim that's what matters.

Posted by: Gloria | Oct 30, 2007 3:54:48 AM

Atually for Mitt Romney the biblical term for using his own money is quote"You eat from the sweat of thy face"not from somebody elses face.

Posted by: kmjjp | Oct 30, 2007 10:07:47 AM

John McCain lost all of my respect when he took his shopping trip to Iraq. What a LIAR. I think the best candidate is RON PAUL. MC CAIN will be more of the same as Bush.

Posted by: John | Oct 30, 2007 8:42:51 PM

Ah yes, the emperor with no clothes needs other peoples money to fund his tilting a windmills. He did marry well though.

Posted by: Sandra Lea | Oct 31, 2007 2:09:53 PM

Dear Cindy,

Watched you on the TV last night. This has nothing to do with politics. It concerns your problem with your health. Presently, you are about to go into the hospital for knee replacement surgey. Wish you luck. What did you have on your leg for support and is it possible to buy it. Am going through the same painful problem and would like your input on what helps the pain.

Thank you Cindy - You certainly are a beautiful lady and wish you all the luck in the world - you deserve it.

Pat

Posted by: Patricia | Oct 31, 2007 9:02:08 PM

what this quote does not tell you is that Cindy's money DID finance John's first campaign, when he was unknown, in the early 80's. they were not above using it then! now, they no longer need to....so it's easy for them to say that they are not using their own money on principle now.

Posted by: jeanne | Feb 20, 2008 10:21:07 AM

How do we know this is true, if she won't release her financial info? Until I see her tax returns, I will believe nothing about her money or how it is separated from her husband and his bid for the Presidency.

Come on people, are we to just take the word of this elitist?

Posted by: Vgirl1 | May 21, 2008 7:07:04 PM

Vgirl1,
How about showing the world your tax return? What? You aren't running for office so you shouldn't have to? Neither is Cindy McCain. Sorry you are poor, but money does not make you an elitist. Attitude does.

Posted by: Bill Rafferty | May 22, 2008 11:38:55 PM

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