(CNN) – President Barack Obama's re-election campaign knocks Republican challenger Mitt Romney's vision for tax cuts and military spending in a new ad released Tuesday.
The 30-second spot, "Worried," begins with references to what could be interpreted as George W. Bush-era policies.
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"You watched, and worried," the narrator says. "Two wars. Tax cuts for millionaires. Debt piled up."
Transitioning to present-day, the narrator then says, "And now we face a choice."
With a photo of Romney on screen, the narrator adds the presumptive GOP nominee's tax plan would support a $250,000 tax cut for millionaires, citing a report by the Tax Policy Center.
The ad also argues Romney would increase military spending, while the campaign backs up their claim by pointing to a CNNMoney analysis showing Romney's plan would boost military spending by $2 trillion over the next 10 years.
The commercial also argues Romney's tax cut proposals would add "trillions to the deficit,” highlighting a study by the Center on Budget and Policy Priorities that finds the Romney plan would increase the deficit by approximately $5 trillion between 2014 and 2022.
Meanwhile, the ad says the president's proposed budget would reduce the deficit by $4 trillion through measures that include spending cuts and raising taxes on millionaires.
"I'm Barack Obama and I approve this message because to cut the deficit we need everyone to pay their fair share," the president says in the ad.
Obama's team is rotating a series of spots in an ad buy worth $5.3 million, running from July 21 to August 3.
The commercial released Tuesday will air in the battleground states of Colorado, Iowa, New Hampshire, Nevada, Ohio and Florida. Absent from the list are North Carolina and Virginia, two battleground states in which the Obama campaign has heavily advertised in the last six weeks-although the campaign has bought time in both of those states through Friday.
A campaign aide told CNN “we’ve been going heavier/lighter in various markets with our buys for the past couple months and we will continue to do so.”
A spokesman for Romney's campaign called the spot "ridiculous."
"This is a ridiculous ad coming from a president who shattered his pledge to cut the deficit in half by the end of his first term. Under Barack Obama, our nation has suffered from one trillion-dollar deficit after another, contributing to America's first-ever credit rating downgrade," spokesman Ryan Williams said. "President Obama's plans to raise taxes and cut the military won't create jobs or make us safer.
"As president, Mitt Romney will revive our economy, strengthen our military, and repair the damage done to the middle class by President Obama's failed policies," he continued.
– CNN Senior Producer Kevin Bohn contributed to this report.
Really? Obama has an ad about how Romney will increase the debt? What a joke!
This is bad joke-- Obama promise cut debt 1/2. What he say about Bush debt. This Obama is something else.
oh barrack...if the voting public really understood what you mean by 'their fair share' they'd run you out of this country on Burlington Northern's rails... you can fool some of the people some of the time...but not all of us, and, we vote!
If Romney is planning on cutting taxes, then what is he planning on cutting in spending. It didn't working during the George W. Bush administration. What makes him think that it would work now? Oh, that's right. He's an ideologue.
"Debt piled up"....BUsh spent far less in 8 years than Obama did in the first three years and Obama's plan to tax the "rich" even if @ a 100% rate wouldn't last the present regime for a month.
If it is true that Romney will revive the economy, provide healthcare to the 40+ million uninsured, cut the deficit and still provide tax cuts to his rich friends, why does he not share his detailed plans with the Americans? Why does he say one thing, does another, and then say that he did not mean what he said? About the damage done to the middle class, actually, it is Romney and his republican friends, specially in Congress, and George Bush who did all that damage; President Obama has been working on reducing the impact of that damage and hopefully to get past it. Therefore, in November, we need to vote democratic and ensure that republicans do not control the senate, the House or the While House. Let us Vote for President Obama and all the democratic senators, Congressmen, and governors to ensure we get all the benefits we deserve and a sensible plan for investment and deficit reduction.
I really can't understand how anyone but the wealthy, very wealthy, could vote for Romney. The Republican agenda in general does not favor the poor or middle class. We're just not worth it for them. Be careful America; pretend you have a decent IQ and vote for Obama/Biden in November.
hay all you repubs ! slapping your jaws about this president being all the problem tells me you did not do well in math when you were in school. their are three parts of this goverments power there is the filibuster senate lead by Mitch Mcconnell , the is the do nothing work ethic house of reps and the white house. that makes 3 thirds. so tell me again how 1 third of washingtons power is blamed for the mess we are in and 2 thirds of washingtons power gets a pass on blame?
Republicans all feel that he economic issues began Jan 09. Nothing was wrong until then. Spin......... say it enough and dumb people begin to believe.
Is this the same Obama who promised to cut the deficit in half in his first term? And we're supposed to believe the same claim now, I suppose. Meanwhile, non-partisan and even left-leaning media dissect every Obama ad and determine it to be thoroughly false. Why doesn't he campaign on his accomplishments? Oh yeah, silly question, never mind. November can't come soon enough.
Romney has supported the Bush Position on cutting Social Security Benefits, Medicare Benefits, and Raising the Retirement Age again. All of this while giving Tax Breaks to Big Oil, and his Millionaire Buddies!
Just pay your fair share
I hate the Romney campaign reponses because:-
1) They never say how he will pay for his policies budget ( budget deficit?) wise or debt wise.
2) They constantly say generically Obama failed but nothing coherent and believable as to why Romney's ideas will "revive our economy"
3) Obama damaged the middle class?? ... well that"s true only, if only; it had not already happened during 2001 to 2008 and you still think the recession was " caused by Obama"
There is no real substance in the Republican campaign either on a person level or especially viable budget and debt policies, which they claim are thier primary goals... I don't see how, believably they get there without a middle classer like me ending up on the poverty line now and when I retire.