From the University of Pennsylvania's FactCheck.org, (listen to the ad and read the full analysis):
An Obama-Biden radio ad hammers McCain for being opposed to stem cell research. Not true. Meanwhile two spots from the McCain-Palin campaign, together with the Republican National Committee, describe McCain's support for the research; they're largely accurate.
By saying that "John McCain has stood in the way - he's opposed stem cell research," the Obama ad seriously misstates the view that McCain has held on this issue since 2001, when he began backing embryonic stem cell research, a position that was out of step with that of many of his fellow Republicans.
The McCain/RNC ads would probably lead listeners to believe that Palin shares McCain's views on this topic. That's not true. But we find that to be a minor flaw compared with the misrepresentation in Obama's ad.
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Given that he is relying on the religious right so much at the moment I wonder if this is a clever ploy by the Obama camp to draw him out into the open on this issue. It must be difficult for McCain to say the accusations are false without risking losing evangelical support.
As many promises as McCain has broken (Honest and Respectful campaign anyone?) and as in bed as he is with the religious right, do you really, honestly think that he's going to actually DO anything about stem-cell research? No, he's going to say something like "Well, that's my personal belief, and I don't think now is a good time to be rocking the boat on this particular issue." I'll bet you $1 to my $10 that that's what happens if McCain becomes president.
He picked a creationist for a running-mate! He'll mouth platitudes and do absolutely nothing.
My first thoughts on this are not too far from Sigmund's. Could it be a clever ploy to sow confusion in the Republican base?
However I don't see anything to be gained from that. At this stage Obama is going to be trying to appeal to the independent voters and his main target there should be Palin's extreme views and McCain's age.
The Obama campaign also has nothing to gain by appearing dishonest.
I think it most likely that the Obama campaign simply fucked up.