POLITICS
10/31/2008 05:12 am ET | Updated May 25, 2011

McCain Ad Distorts Obama, Day After Decrying Gotcha Journalism

John McCain is out with a new ad that accuses Barack Obama of making the same claim - "the fundamentals of the economy are strong" - that McCain himself was viciously criticized for just a week ago.

But the quote plucked by the McCain campaign is taken entirely out of context, just a day after the Arizona Republican himself decried "gotcha journalism" when it came to his running mate.

Here is the Obama quote McCain highlights: "We've got the long term fundamentals that will really make sure this economy grows."

And here is Obama's actual statement, which suggests exactly the opposite of what McCain alleges: mainly, that he believes the country must repair the economy's long-term structure.

[We need] a plan that would extend expiring unemployment benefits. For those Americans who have lost their jobs and have been working hard to find a new one, but haven't found one yet. That's part of the change we need. And then after this immediate problem, we've got the long-term fundamentals that will really make sure this economy grows. Change means tax code that doesn't reward the lobbyists who wrote it, but the American workers and small businesses that deserve it. As President I am going to eliminate capital gains taxes for small businesses and start-ups.

Here is the full script of the ad, which the campaign says will be for the web.

ANNCR: Who's Barack Obama?
First, Obama attacked McCain.
Then said:
BARACK OBAMA: "We've got the long term fundamentals that will really make sure this economy grows."
ANNCR: Strong fundamentals?
Is Obama saying McCain's right?
Or is Obama saying his own attacks are shameless?
Either way, Obama's a hypocrite.