If I recall correctly, our President is one heck of a poker player. My guess he is creating a situation where the democrats will have to oppose shutting down the 527's. President Bush will then ruefully agree that it is best to permit as much free speech as possible.
Then the volume on the squealing from the left increases as they realize they have been outfoxed once again.
RileyD, nwJ
Sounds simliar to the strategy of signing the CFR act in the first place on the theory that The Courts would strike it down. That really worked well.