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.


Also on HuffPost:

Loading Slideshow...
  • Ed Conard

    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

    Blake Roney, Nu Skin (Personal Care Products). Gave $1 million as part of a shell corporation.

  • Steven Lund

    Steven Lund, Nu Skin. Gave $1 million as part of a shell corporation.

  • Robert Mercer

    Robert Mercer, left, Renaissance Technologies (Financial)

  • John Paulson

    John Paulson, Paulson & Co. (Financial)

  • Julian Robertson

    Julian Robertson, Tiger Management (Hedge Fund)

  • Paul Singer

    Paul Singer, right, of Elliot Management (Hedge Fund)

  • Melaleuca

    Melaleuca and owner Frank VanderSloot (Personal Care)

  • Paul & Sandra Edgerley

    Paul & Sandra Edgerley, Bain Capital

  • Bob Perry

    Bob Perry, Perry Homes (Home Builder)

  • Francis Rooney

    Francis Rooney, Rooney Holdings (Financial)

  • Oxbow Corp. and William Koch

    Oxbow Corp. and owner William Koch (Energy & Technology)