Can I both stretch and outline the same text?

[Ofnuts]

The path that you create for the outline can be stretched. Just use the Scale tool in "Path" mode (rightmost icon in the "Scale:" line of the Tool options when the Scale tool is active).

Although a more comfortable method is also possible:

1. duplicate the text layer
   
2. create the path from it
   
3. open the Paths list, and click the link icon for the path
   
4. back in the Layers list, click the link icon for the layer copy
   
5. stretch the layer copy as you would stretch a regular layer. Due to the link icon, this will stretch the path the same way 
   
6. Remove/hide the layer copy
   

On my system I use Roboto Condensed a lot (Roboto is a free font designed for Android)