Obama Hits McCain and Bush on Economics in New Ad

Barack ObamaBarack ObamaLow income mothers need policy agenda to overcome healthcare obstacles WikiLeaks releases messages from Obama Obama jabs Samsung over phones that catch fire MORE's new television ad criticizes John McCainJohn McCainTrump: 'Very disappointed' GOP senator dropped support GOP senator: I'd consider Clinton Supreme Court pick The Trail 2016: Election night cliffhanger MORE's economic policies as proposals that are too close to President Bush's.

The ad starts with an image of a mock book called "Economics" that's authored by McCain and has a foreword by Bush. It notes that McCain has backed Bush 95 percent of the time as a senator and would continue spending on military operations in Iraq while that country has built its own surplus.

The spot will run in 16 states.

Read the transcript and watch the video of the ad below: