Chafee winning in '06 with more money sounds unlikely to me, even though he was a better Senator than the Democrat who replaced him. Under Bush, Republicans were simply to unpopular at that point in RI. But I take Specter's broader point.
The Club's response...
"Senator Specter has confirmed what we already knew - he's a liberal devoted to more spending, more bailouts, and less economic freedom. Thanks to him, Democrats will now be able to steamroll their big government agenda through the Senate.
"This also shows how unprincipled he is. Just a few weeks ago, he stated quite clearly that he was remaining a Republican because he thought he had 'a more important role to play there.' And he said 'the United States very desperately needs a two-party system.'
"This cynical play for political survival calls into question whether Pennsylvania taxpayers can believe anything Arlen Specter says. If his only principle is personal ambition, can he really be trusted with the serious issues that face our country?"
"The Club for Growth PAC enthusiastically endorsed Pat Toomey for Senate in Pennsylvania when Specter was pretending to be a Republican. Club members will be even more committed to Toomey's candidacy now that Specter has revealed his true identity."
Nate Silver has more numbers on what the switch may mean in practice.
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