CLEVELAND, Ohio (AFP) - John McCain launched the final week of his election campaign Monday with a searing attack on Barack Obama, claiming his rival's economic policies would lead to a deeper, more painful recession. After a meeting with economic advisors and business leaders, Republican candidate McCain set out his plans to kick-start the economy by insisting Obama was planning sweeping tax increases that would paralyse small businesses. McCain, who is struggling to distance himself from a cratered economy after eight years of a Republican administration, said Obama was part of a "dangerous threesome" that included congressional leaders Nancy Pelosi and Harry Reid. "With one week left of this campaign the choice facing Americans is stark. My economic goals and policies are very clear," McCain said. "The difference between myself and Senator Obama is that our plan will create jobs, his plan will raise taxes on small businesses, impose insurance mandates on families and cut jobs. It's a difference of millions of jobs in America and Americans are beginning to figure that out." "I know it's pleasant to listen to Senator Obama's rhetoric but look at the record " he has voted to raise taxes on individuals making as little 42,000 dollars, those are facts. "Today he claims he'll tax the rich; but we've seen in the past that he's been willing to hit people squarely in the middle class." McCain said he would focus on slashing spending and cutting taxes, moves which he believed would create more jobs for small businesses. Obama's policies would make a recession "even deeper and more painful," McCain added, before deriding Obama as the "most liberal" person to ever run for the White House. "This election comes down to how you want your money spent. Do you want to keep it invested in your future or do you want to have it taken by the most liberal person to ever run for the presidency, and Democratic leaders who have running Congress for the past two years, Nancy Pelosi and Harry Reid?" he said. "My friends, this is a dangerous threesome." McCain also said he was determined to halt the turmoil in the financial markets in Wall Street which has wiped hundreds of billions of dollars from the value of retirement funds since erupting in September. He said he would offer tax breaks to investors who held stock for a year, a move designed to discourage speculators. "To help put a floor on the stock market, we need people and institutions to start buying and holding their investments again," he said, pledging to reform the financial services sector. "I will demand complete transparency into the accounts and activities at all banks and insurance companies so they cannot take on the kind of risk that brought down the financial system," he said.