(CNN) – President Barack Obama's campaign on Saturday released their second television ad which argues Republican presidential nominee Mitt Romney was dishonest at Wednesday's debate and in one of his own television ads.
This ad, like one released Thursday - the day after the debate - uses footage from the faceoff between Obama and Romney.
"I'm not in favor of a $5 trillion tax cut," Romney can be seen saying on the debate stage in the spot.
Obama and Romney sparred over that point at the debate, and the campaigns have waged war over it since on the campaign trail and in statements.
The president charged at the debate that "Romney's central economic plan calls for a $5 trillion tax cut."
"He is saying that he is going to pay for it by closing loopholes and deductions," Obama said. "The problem is that he's been asked over 100 times how you would close those deductions and loopholes, and he hasn't been able to identify them."
On Thursday, Obama told supporters in Denver that Romney "owe(s) the American people the truth," while his top strategist, David Axelrod, told reporters that Romney's arguement was "probably unprecedented in its dishonesty."
Romney communications director Gail Gitcho, meanwhile said Obama deputy campaign manager Stephanie Cutter, in an interview with CNN, walked back the $5 trillion charge and "admitted that their central attack on Mitt Romney is false."
The Obama ad also swats back at a Romney campaign ad which says, "Barack Obama and the liberals will raise taxes on the middle class by $4,000."
The Romney campaign cited a study by the American Enterprise Institute in that spot, which was released earlier this week.
"The chairman of that so-called independent group is from Romney's former company. Dick Cheney is on its board. Newt Gingrich was there, too," it says. "It's not independent - it's just not true."
In a statement responding to the ad, Romney campaign spokeswoman Amanda Henneberg pointed to the comments of Cutter and fact checkers, saying "Independent fact checkers – and even his own campaign – have admitted that President Obama is spreading falsehoods about Mitt Romney’s tax plan.
"It’s clear the President is willing to say and do anything to avoid talking about his own record of fewer jobs, declining incomes and record poverty. And another four years wont’ be any different, with looming tax hikes on job creators and middle-class families," Henneberg said. "As president, Mitt Romney will implement pro-growth reforms that cut taxes for the middle class and create a fairer, simpler tax code that creates millions of good-paying jobs.”
Obama's campaign said the spots will run in Colorado, Florida, Iowa, North Carolina, New Hampshire, Nevada, Ohio, and Virginia, but did not say how much it was spending.
– CNN's Ashley Killough and Tom Cohen contributed to this report