Crossroads GPS launches $20 million ad campaign against Obama

Crossroads GPS, an organization formed by Karl Rove and other Republicans, announced a $20 million advertisement campaign Saturday aimed at President Barack Obama's economic record.

The first of the 501(c)(4) nonprofit corporation's television ads, entitled "Shovel Ready," accuses the Obama administration of failing to improve the economy with its $830 billion stimulus legislation.

"14 million out of work. America drowning in debt. It’s time to take away Obama’s blank check," the ad says.

The ad will begin airing Monday in Colorado, Florida, Iowa, Missouri, Montana, Nebraska, North Carolina, New Mexico, Nevada, and Virginia.

“President Obama may have inherited a recession, but his policies have made things worse for everyday Americans by running up the debt and causing economic uncertainty,” said Steven Law, president of Crossroads GPS. “Now Obama seems checked out of efforts to reduce America’s dangerous debt load, while his party is pushing massive tax increases and even more spending.”

Crossroads GPS was founded in June 2010 as a non-profit “social welfare” organization, which allows the group to raise and spend money without being required to disclose its sources of funding to the public.

Its affiliate, American Crossroads, on the other hand, can accept an unlimited amount of donations, but must disclose its donors to the public.

Both groups were very active during the run-up to the 2010 U.S. midterm elections.

Sen. Dick Durbin (D-IL) called on the Internal Revenue Service (IRS) to investigate the tax status of conservative group last year, noting that the primary purpose of 501(c)(4) organizations, like Crossroads GPS, cannot be political.

Watch the ad by Crossroads GPS below: