Economic Ads Flood Out

Barack Obama has a new, two-minute ad out featuring the candidate speaking to camera about his economic plan. The ad will run in key states and nationally, according to the campaign.

Partial text: "I know that that we can steer ourselves out of this crisis. But not by driving down the very same path. And that's what this election's all about. On taxes, John McCain and I have very different ideas. Instead of giving hundreds of billions in new tax breaks to big corporations and oil companies, I'll cut taxes for small and startup businesses that are the backbone of our economy. Instead of more tax breaks for corporations that outsource American jobs, I'll give them to companies who create jobs here. Instead of extending the Bush tax cuts for the wealthiest -- I'll focus on you. … If you make less than a quarter million a year, you won't see your taxes raised one penny under my plan. And seniors making less than fifty thousand, who are struggling with the rising costs of food and drugs on fixed incomes, won't pay income taxes at all." Watch it:

Meanwhile, John McCain's campaign is up with a new ad using former president Bill Clinton to bolster the campaign's claim that McCain tried to push for more regulation of Freddie Mac and Fannie Mae. The ad will run nationally.

"John McCain fought to rein in Fannie and Freddie," an announcer begins. "The Post says McCain 'pushed for stronger regulation'... while Mr. Obama was 'notably silent.' But, Democrats blocked the reforms. Loans soared. Then, the bubble burst. And, taxpayers are on the hook for billions. Bill Clinton knows who is responsible." Clip of Bill Clinton, saying, "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac." Announcer: "You're right, Mr. President. It didn't have to happen." Watch it:

The RNC is also out with a new ad, claiming that Obama's spending plans would add up to a trillion more dollars in government spending. The ad will run in Wisconsin, Ohio, Michigan, Pennsylvania, Virginia and Indiana.

Text: "Meltdown. Wall Street squanders our money and Washington is forced to bail them out with – you guessed it – our money. Can it get any worse? Under Barack Obama's plan, the government would spend a trillion dollars more, even after the bailout. A trillion dollars. Who pays? You do. New taxes, new spending, new debt. Barack Obama's plan: It will make the problem worse." Watch it: