Washington Examiner: Biden walks fine line while testing waters

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Campaign watchdogs warn that the longer he holds off on an official decision, the more risks he takes in running afoul of campaign finance laws. Any campaign spending must be paid for with candidate-permissible funds, either his own personal money or funds raised in low increments, according to Paul Ryan, senior counsel at the Campaign Legal Center.

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The Federal Election Commission says that "testing the waters, spending money for the purpose of determining whether to run" is subject to strict limits, Ryan said.

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"We really need to rely on individuals being honest with the public about what their intentions are," Ryan said.

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