Ad Roundup: Barack Obama and John McCain's Ads Continue to Focus on Economy

Last week, the candidates continued to release ads on the financial crisis (Barack Obama had two in Spanish) but also aired spots focused on other topics. Obama attacked McCain on healthcare, and McCain released another ad linking Obama to Tony Rezko and other Chicago political figures. Two third-party groups also issued controversial ads.

John McCain: “Mum”
This ad attacks the reaction of Barack Obama and leading Democrats to the financial crisis, saying that during the crisis "McCain and his congressional allies led" and "Obama and his liberal allies" were "mum." The ad claims that Obama will bring "more taxes" and "no leadership. A risk your family can't afford." In remarks prepared for delivery in Miami on September 19, Obama said, "Given the gravity of this situation . . . I will refrain from presenting a more detailed blueprint of how an immediate plan might be structured until I can fully review the details of the plan proposed by the Treasury and the Federal Reserve." In response to the ad, Obama spokesman Bill Burton said in a statement, "This ad is laughable. If you believe John McCain, George Bush, and the Republicans in Washington have led on reforming Wall Street and restraining CEO pay, I've got a bridge in Alaska to sell you." FactCheck.org reviewed the ad and concluded that it is false because Obama has made several statements and given speeches on the market crisis. The group also called McCain's statement about Obama's tax plan into question. FactCheck.org said under Obama's tax plan, most families would pay less in taxes.

John McCain: “Chicago Machine”
In this ad, McCain attempts to link Obama to political figures from Obama's home turf in Illinois. The announcer says that Obama was "born of the corrupt Chicago political machine" and then describes Obama's ties to economic adviser William Daley, real estate developer and convicted felon Tony Rezko, Illinois Senate President Emil Jones, and Illinois Gov. Rod Blagojevich. The ad cites reports of their questionable ethics and concludes, "With friends like that, Obama is not ready to lead." Obama spokesman Bill Burton responded to the ad by pointing to the recent news that McCain campaign manager Rick Davis has ties to Fannie Mae and Freddie Mac. He said in a statement: "It's no coincidence that on the very day newspapers reported that John McCain's campaign manager was paid $2 million to lobby against tighter regulation of Fannie Mae and Freddie Mac, the McCain campaign would launch this false, gratuitous attack."

Barack Obama: “Article”
Following the publication of a by John McCain in Contingencies magazine on health policy reform, Barack Obama launched this ad, pouncing on quotes from the piece. The announcer says, "We've seen what Bush-McCain policies have done to our economy. Now John McCain wants to do the same to our healthcare." The ad says that according to the column, McCain wants to "reduce oversight of the health insurance industry . . . just as we have done over the last decade in banking." McCain's senior economic advisor Douglas Holtz-Eakin responded to the ad in a statement: "This is absurd. If Barack Obama thinks that today's financial troubles were caused by policies which allowed Americans to use an ATM anywhere in this country, then it is better that he continue to be silent about solutions to the crisis on Wall Street." The Miami-Herald reported that McCain's camp accused Obama of distorting the Contingencies piece, which was really about "giving American families greater access to health care and the ability to buy it across state lines."