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Romney Campaign Ad Attacks Obama Over Crony Capitalism

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The Romney campaign continued to accuse President Barack Obama of crony capitalism with the release of a new television ad on Wednesday.

The ad, which features $100 bills burning against a black background, accuses the president of using stimulus money to reward lobbyists and campaign supporters. "Where did all the Obama stimulus money go?" the narrator asks.

"Friends, donors, campaign supporters, special interest groups,” he then answers. "Solyndra. Five hundred million taxpayer dollars. Bankrupt."

The ad ends with a clip of Sen. Chuck Schumer (D-N.Y.) saying, "Seventy-nine percent of the $2.1 billion in stimulus grants awarded through it went to overseas companies."

It's a line of attack Mitt Romney's campaign has used before but revived this week as pressure mounts on the presumptive Republican nominee to release more of his individual tax returns. The campaign posted a web video making similar claims against Obama on Monday, set to the president's rendition of Al Green's "Let's Stay Together."

The Obama campaign responded by calling the accusations another means for Romney to distract voters from the tax return issue.

"Launching a warmed over and false line of attack that has already been debunked by independent news organizations and fact-checkers won't help him," said Obama campaign spokeswoman Lis Smith in an emailed statement.

The Romney campaign didn't specify where the ad will air, but Politico reported on Tuesday that the campaign was increasing their ad buy in key swing states, including Ohio, New Hampshire, Virginia, North Carolina, Iowa, Colorado, Florida and Wisconsin.

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