Here's what Bush said when he signed McCain-Feingold:
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However, the bill does have flaws. Certain provisions present serious constitutional concerns. In particular, H.R. 2356 goes farther than I originally proposed by preventing all individuals, not just unions and corporations, from making donations to political parties in connection with Federal elections.
I believe individual freedom to participate in elections should be expanded, not diminished; and when individual freedoms are restricted, questions arise under the First Amendment.
I also have reservations about the constitutionality of the broad ban on issue advertising, which restrains the speech of a wide variety of groups on issues of public import in the months closest to an election. I expect that the courts will resolve these legitimate legal questions as appropriate under the law.
Perhaps a reporter can get Our Dear Scotty to unsnarl this little bit of rhetorical fun?
...kick the ball, and they run after it. Sad little press.
...for the reporters who are slow:
All ads are not the same.
Not all negative ads are unfair.
Not all negative ads contain explicit lies or are designed to be explicitly misleading.
No matter what your general belief about campaign finance laws, Bush has apparently adopted the extreme position which would deny any "outside group" the right to make any political ads, in contrast to his previous positions on this subject.
Many "outside groups," such as the MoveOn PAC, are subject to stringent disclosure rules.
Bush has also admitted that he didn't read and/or understand the recent campaign finance law, which he signed.