The conservative advocacy group Crossroads GPS is launching a $25 million television ad campaign going after the president's record on the economy.
Crossroads GPS, which was started by former Bush administration official Karl Rove, unveiled its first attack ad on Friday. Called "Excuses," it will be broadcast in important swing states -- including Colorado, Florida, North Carolina, Nevada, Ohio and Virginia -- beginning next week.
The ad says the president is hiding behind excuses -- like Europe's ongoing financial troubles -- for continued economic stagnation in the U.S. by saying they're outside his control. But the real problem, the ad continues, is "wild spending and skyrocketing debt."
"We're suffering through one of the weakest economic recoveries in our history, and the only thing President Obama is offering is slogans and excuses," Steven Law, president of Crossroads GPS, said in a statement. "People are hungering for practical solutions to our skyrocketing debt and flat-lined economy, and that's what we are putting forward in our New Majority Agenda."
Crossroads GPS is a nonprofit advocacy group and is not required to disclose its donors. Last week, the Obama campaign filed a complaint to the Federal Election Commission in an effort to force the group to disclose its donors, arguing that all of the political attack ads it has been running make it more like a political campaign than a nonprofit.
Ed Conard of Mitt Romney's private equity firm Bain Capital is one of 12 donors who've given at least $1 million to the super PAC Restore Our Future, which supports Romney's bid for the White House. Due to the obliteration of campaign finance law by the Supreme Court, donors can give unlimited amounts to the super PAC. Meet Romney's dozen.
Blake Roney, Nu Skin (Personal Care Products). Gave $1 million as part of a shell corporation.
Steven Lund, Nu Skin. Gave $1 million as part of a shell corporation.
Robert Mercer, left, Renaissance Technologies (Financial)
John Paulson, Paulson & Co. (Financial)
Julian Robertson, Tiger Management (Hedge Fund)
Paul Singer, right, of Elliot Management (Hedge Fund)
Melaleuca and owner Frank VanderSloot (Personal Care)
Paul & Sandra Edgerley
Paul & Sandra Edgerley, Bain Capital
Bob Perry, Perry Homes (Home Builder)
Francis Rooney, Rooney Holdings (Financial)
Oxbow Corp. and William Koch
Oxbow Corp. and owner William Koch (Energy & Technology)