(CNN) - A new television ad released Saturday by President Barack Obama's campaign pushes back against his opponent's argument that middle class Americans are not better off than they were when he took office.
The minute-long spot contrasts the deep job losses that happened early in Obama's term with the job growth since. Considering the 4.3 million jobs lost in Obama's first 13 months in the White House, the president remains 261,000 jobs shy of breaking even and then creating new jobs.
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Democrats - including Obama and former President Bill Clinton in their convention addresses - have argued Obama deserves credit for turning around plummeting jobs numbers. In the month with the steepest drop – March 2009 - the U.S. economy lost 799,000 jobs.
Clinton is featured in the ad, criticizing Republicans for wanting "to back to the same old policies that got us in trouble in the first place."
Immediately after that sound bite from his convention address, Obama appears on screen saying, "We're not going back, we are moving forward."
The ad accuses Mitt Romney of supporting a "new $250,000 tax break for multimillionaires" and middle-class tax increases.
"The real question is, whose plan is better for you," the narrator asks.
Romney campaign Ryan Williams responded to the ad in a Saturday statement, saying, "All the false and misleading ads in the world can’t change one simple fact: Americans are not better off since President Obama took office.
"23 million Americans are struggling for work, our national debt has hit a record-breaking $16 trillion, and more Americans are in poverty and on food stamps than ever before," Williams continued. "Mitt Romney’s economic plan would lead to a more prosperous future for middle class families spurring growth and job creation, and ensuring that the next four years are better than the last four.”
The Obama campaign says the spot will run in Colorado, Florida, Iowa, New Hampshire, Nevada, Ohio and Virginia - all battleground states where Romney and his allies are running ads, and where the two candidates are putting down the majority of their shoe leather on the campaign trail.