McCain finished January in debt, which is why he wants public financing

FEC reports for January were filed today. And, it's no wonder John McCain is so freaked about money for the general election. It's not about principle. He's got no fund raising capacity.

Matt Stoller has the McCain numbers. McCain's debts were more than his cash on hand. Not good for the GOP front runner. Overall, McCain raised $12.7 million in January and $48.7 million since he started his campaign. Barack Obama raised $36.7 in January alone and over $137 million since his campaign started. This month is going to break records for Obama, too.

Hasn't been much pick up in the media about McCain's paltry campaign war chest. But, it should cause them to question McCain's obsession with using public financing for the general election. The media eats it up, of course, without ever questioning McCain's motives.

Remember when the GOP used to be the party that raised the most money?