What timing for the Obama campaign to put out a new ad - “The Subject” - hitting McCain for ignoring the economy and trying to “smear” Obama the same morning that the McCain campaign accused Obama of “lying” in a TV spot of their own.

Script and video below.

ANNCR:  He’s out of ideas.

Out of touch.

And running out of time.

But with no plan to lift our economy up, John McCain wants to tear Barack Obama down.

With smears that have been proven false.

Why? McCain’s own campaign admits that if the election is about the economy, he’s going to lose.

But as Americans lose their jobs, homes and savings, it’s time for a President who’ll change the economy.

Not change the subject.

BARACK:  I’m Barack Obama and I approved this message