Let's not over-analyze it, let's just take it for what it is.
You also seem to fail to see Rush's actual intent here: if he gave a crap about negative spin in a campaign, he'd stop being one of its major proponents. He's only criticizing it here because he lost the election and a lot of money from supporters. That makes him two-faced. You can be guaranteed next week that, if it's convenient to his position, he'll be indulging himself again; in fact, as I said, his comments here are an attempt in itself to ridiculously spin the loss and compare Obama to some kind of actual criminal vs just his opponent in political smear tactics.
The topic of spin itself is an interesting one, and it's hard to police the middle gray areas; the extreme spins can be agreed upon, but often what is "spin" to one party is "truth" to the other.