I was stunned to hear a campaign advertisement from Rep. John Shadegg, R-Ariz., this afternoon taking credit for fighting the $700 billion bailout package and standing up to President Bush on the issue. The ad doesn’t appear on his campaign Web site, but I heard it on KFYI (550AM) just after 2 p.m. today. It’s an obvious reference to Shadegg’s vote Monday against an earlier version of the bailout, which the House did reject. The radio ad’s language invoked an ongoing campaign theme as Shadegg the reformer who challenges the Washington establishment.

The ad was a complete surprise because it aired a couple of hours after Shadegg voted with a House majority to approve the latest version of the bailout and send it on for Bush to sign into law. The second half of the ad did include some thoughts similar to what’s in that news release about reforms such as increasing the federally insured amount for individual banking accounts and easing the rules on “mark-to-market,” or how banks and other lenders must value the physical assets used as collateral on loans. But the overall tone of the ad was the $700 billion bailout was bad for America and Shadegg stood by his constituents when he worked against it.

This would be a ready-made attack ad for Shadegg’s election opponent, Democrat Bob Lord. “He was against it before he was for it.” Only, Lord did the exact same thing, through his public statements, since he couldn’t vote on the measure.

Posted in: Congress • Election issues • $700 billion bailout • Bob Lord • John Shadegg |

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