Obama Hits McCain and Bush on Economics in New Ad

Barack ObamaBarack ObamaWATCH LIVE: Obama to headline WHCA dinner Five ways Trump will attack Clinton Armstrong Williams: Obama 'should get on his knees and pray' MORE's new television ad criticizes John McCainJohn McCainExperts warn weapons gap is shrinking between US, Russia and China McCain delivers his own foreign policy speech Republicans who vow to never back Trump 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:

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