This is a push back ad, sticking with the overall theme the Obama Campaign is pushing that Romney is a liar. Notably, the Campaign threw Romney in with Dick Cheney and Newt Gingrich. I like them working Bain back into the discussion. That's a good thing.
Next time they meet in debate, I'm confident the president will point out in Romney's face what his campaign is saying in its ads. He approves this message so that shouldn't be a problem.
Figured you all might want to see the ad this is pushing back on. The joint Romney/RNC fund paid for the ad and its a big buy in Ohio.