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New RNC Ad Dismisses Bailout as McCain Works for It

By Ed O'Keefe in The Trail:

A new ad from the Republican National Committee's independent expenditure unit seems to dismiss the economic bailout proposals that John McCain continues to work on, potentially confusing voters by leading them to think the senator opposes the measures. The ad also criticizes Barack Obama for the size and costs of his government spending proposals.

"Wall Street squanders our money and Washington is forced to bail them out with -- you guessed it -- our money," the RNC ad states. "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."

McCain told CNN this morning that in spite of fierce opposition to the bailout, "I'm glad to stay at it. That's what my job is, I believe, as an American, not as a candidate for president." McCain said he spoke with President Bush this morning and expressed support for a proposed increase of FDIC insurance levels on bank deposits from $100,000 to $250,000.

"For John McCain's party to demagogue a rescue plan that he supports in order to score cheap political points is not only dishonest and dishonorable, it is the height of irresponsibility on a day when we urgently need to pass that plan to prevent an economic catastrophe," Obama campaign spokesman Bill Burton said in response to the spot.

The RNC says the ad will air in Indiana, Michigan, Ohio, Pennsylvania, Virginia and Wisconsin.

It is paid for by the RNC's independent expenditure unit, created in July to target Obama through advertising and mailers. Some of the unit's funding comes from money once raised by the McCain campaign, but it is prohibited by law from coordinating with the campaign or RNC.

No one from the independent expenditure unit was immediately available for comment on the ad's claims that Obama's government spending plans would cost "a trillion dollars or more."

By Ed O'Keefe |  September 30, 2008; 4:47 PM ET Ad Watch , John McCain
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