Obama Hits McCain and Bush on Economics in New Ad

Barack ObamaBarack ObamaMorris: Trump's key to victory: Men The Hill's 12:30 Report Five things Clinton needs to do to win the California primary MORE's new television ad criticizes John McCainJohn McCainGOP senators split over Cruz's aid on campaign trail Why a power grid attack is a nightmare scenario Senate fight brews over Afghan visas 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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