AT News Editor Ed Lasky reminds us of another flip flop from 2008 when Obama promised to take Federal matching funds and then raised $750 million when he went back on his word and refused limits on his fund raising.

Same lack of principle here. Same hypocrisy. After scathing denunciations of Republicans for taking advantage of the SCOTUS decision on corporate campaign giving, the president is now welcoming the Super Pacs.

Politico:

President Barack Obama - in an act of hypocrisy or necessity, depending on the beholder - has reversed course and is now blessing the efforts of a sputtering super PAC, Priorities USA Action, organized to fight GOP dark-money attacks.

On Monday morning, Obama reviled the "negative" tone of the super PACs, a dominant fundraising source in the wake of the Supreme Court's Citizens United decision. But by the evening, word leaked to POLITICO that Obama had offered his support for Priorities USA Action, which thus far has raised a fraction of what GOP-backed groups have raked in.

Obama's top campaign staff and even some Cabinet members will appear at super PAC events. The president himself will not address super PAC donors, although there's nothing to legally prohibit the president, first lady Michelle Obama and Vice President Joe Biden from expressing their support for the group - as GOP presidential front-runner Mitt Romney has done for his own pet super PAC.

"We decided to do this because we can't afford for the work you're doing in your communities, and the grass-roots donations you give to support it, to be destroyed by hundreds of millions of dollars in negative ads," campaign manager Jim Messina told supporters in an email Monday night.

[...]

Another awkward timing issue: Last week, Senate Democrats, led by Chuck Schumer of New York, announced plans to hold hearings into whether Republican-backed super PACs had violated federal law banning coordination between super PACs and campaigns.

"It doesn't pass the smell test to say some of these groups aren't coordinated," Schumer told reporters.

Watch Schumer drop his "investigation" like a hot potato.

For a candidate who is going to raise a billion dollars anyway, what does he need a Super Pac for? No matter. Just more proof that when it comes to principle, this president lacks the moral courage to stand by his word as he has shown time and time again.