McCain's $4 million loan is presenting one very large problem for his campaign, The Washington Post's Matthew Mosk reports. "Questions about the legality of the deal have turned the fine print of McCain's borrowing into a source of intense scrutiny among leading campaign lawyers," Mosk writes. "Several suggested McCain has landed in a legal bind: If McCain used the promise of public financing to secure the loan -- as Democrats suggest -- he faces strict spending limits. If public funds were not involved -- as [McCain lawyer Trevor] Potter argues -- that poses other problems."
And the FEC still doesn't have enough members to even render a decision. "FEC fingerpointing continues as questions remain about Republican presidential contender Sen. John McCain's obligation to the public financing system," ABC's Jennifer Duck and Z. Byron Wolf report. "If the posturing on Capitol Hill is any indication, this is not an impasse with a resolution in sight."
Also in the news:
Consistency alert: USA Today's Jill Lawrence collects a few debate exchanges that could be heard about again. "Obama hedged about whether he would take public money for the general election if he is the nominee, as he once said he would. Clinton was vague on when she'd release her tax returns except to say not before the next primaries."
Another key point: "The protectionist tone of the Democratic presidential race is reaching new heights as senators Clinton and Obama vowed last night to withdraw America from the North American Free Trade Agreement if Mexico and Canada do not agree to renegotiate the terms of the pact," Josh Gerstein writes in the New York Sun.
Happy birthday, Chelsea Clinton. And she's spending it on the campaign trail, as ABC's Kate Snow and Jeanmarie Condon report. "In the past three months, Chelsea, who turns 28 today, has gone from silent daughter to confident campaigner," they write.
"She knows her mother's stand on the issues, sometimes better than the staff who accompany her. She's fielded questions on everything from health care to 'net neutrality,' becoming a consummate politician. If Chelsea is bothered that she's had to put her life back in New York on hold, she never lets it show."
As for Chelsea's dad, "The long campaign has taken some of the fight out of the Big Dog," John M. Broder writes in The New York Times. "The growling and snapping Bill Clinton the nation saw before the New Hampshire and South Carolina primaries has been muzzled and leashed."
"He is being kept as far from the news media as possible to prevent any more of the red-faced, finger-wagging tirades and freelance political commentary that polls say cost Hillary Rodham Clinton a lot of support, particularly among black voters," Broder continues. "What he lacks in passion he makes up for in sheer volume of words."
ABC's Jake Tapper fact-checks a Clinton NAFTA mailer that purports to rely solely on the "record" to push back at Obama. "But what she offers is certainly not the truth, the whole truth and nothing but the truth," Tapper writes. "The quotes about Obama and NAFTA she uses are completely out of context."