Obama Ad on Economy: ‘Pain Has Trickled Up’

Barack Obama makes like its 1992 and criticizes trickle-down economics in a new campaign ad.

“For eight years we’ve been told that the way to a stronger economy was to give huge tax breaks to corporations and the wealthiest. Cut oversight on Wall Street. And somehow all Americans would benefit,” Obama says in the spot. “Well now we know the truth. Instead of prosperity trickling down, pain has trickled up.”

Obama’s campaign said the ad will run in targeted states, but it did not say which states and how much it will spend to air it.

The focus on the middle class and the “trickle-down” theory is reminiscent of ads in 1992, when both Democratic candidate Bill Clinton and independent candidate Ross Perot railed against Republican economic policies.

Read the transcript and watch the ad below.

For eight years we’ve been told that the way to a stronger economy was to give huge tax breaks to corporations and the wealthiest. Cut oversight on Wall Street. And somehow all Americans would benefit.

Well now we know the truth. Instead of prosperity trickling down, pain has trickled up. We need to change direction. Now.

I’m Barack Obama. Here’s what I’ll do as president: End the Wall Street free for all with commonsense safeguards that put homeowners and struggling families first — not corporate greed and CEO bonuses. Jumpstart our economy with a middle class tax cut, paid for by closing special interest group loopholes. Get serious about energy independence. A 10-year mission to create millions of good paying jobs by investing in made-in-America energy and infrastructure. You can read my whole plan to rebuild our economy on our website, Barackobama.com.

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