Once you officially declare your candidacy, you’re no longer allowed to raise limitless sums for your PAC. Jeb, however, has been doing this “I might be running, I’m just not sure” routine for half a year, and as he’s coyly demurred over whether he’s actually running for president, he’s done everything else a candidate for president does: hiring staff, giving speeches, fleshing out a platform, attacking other candidates, stating flat-out that he will “campaign hard,” etc.

  And, of course, he’s been raising obscene amounts of money.