11/01/2008 05:12 am ET | Updated May 25, 2011

Obama Ad Goes After McCain's Strength... Fiscal Responsibility

Barack Obama is stepping up the ad wars on Monday, accusing John McCain of being the candidate of out-of-control spending and budgetary irresponsibility.

Titled "Spending Spree," the spot goes through the list of debt-increasing measures that McCain has pledged to pursue once in office, including more tax breaks for corporations, privatization of social security and tax credit for insurance companies.

What's interesting about the ad, however, is that it goes right after a perceived McCain strength -- an extension of what Obama tried to do in last Friday's presidential debate. With economic woes at the forefront of the election, both candidates clearly see a benefit of pushing fiscal prudence.

UPDATE: The McCain campaign responds by accusing Obama of "lying with impunity" and downright hypocrisy.

"Barack Obama is lying with impunity and now he is shamelessly accusing John McCain of being a 'big spender' while failing to cite a single legitimate McCain spending item - not a single new proposal or program. The truth is Barack Obama has realized that his requests for a billion dollars in pork barrel spending and his proposal for nearly a trillion dollars in new federal spending is desperately at odds with the American pocketbook. Every American voter knows that you don't spend more when you have less, and they also know not to vote for an inexperienced politician who will say or do anything to get elected." ---Tucker Bounds, spokesman McCain-Palin 2008