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Stephanie Cutter shares the facts against the latest ad put out by Karl Rove and his Super PAC: Crossroads.

"Hi, I'm Stephanie Cutter, Deputy Campaign Manager at Obama for America.

Well, here we are again. Karl Rove's group, Crossroads, is spending $25 million from secret donors to tear down the president in a new ad out today.

Time to tear this thing apart.

First up -- the attack ad says the president has not helped people who face foreclosure. That is flat out wrong.

Because of President Obama's policies and the efforts he set in motion, over 5.9 million homeowners were able to modify their mortgages, avoid foreclosure, and stay in their homes. And the president is fighting to get Congress to go further -- to let responsible homeowners who pay their mortgages on time to refinance and save on their monthly payments, even if they are underwater. The president is doing this because he believes homeownership is critical to helping middle class families build for their future.

And don't forget: Mitt Romney's plan on this? Well I'll just let him speak for himself:

ROMNEY: 'Don't try and stop the foreclosure process, let it run its course and hit the bottom.'

I'd like to say that's unbelievable, but with Mitt Romney, it's really not.

Second, the ad says the president broke a promise to cut taxes on middle class Americans. They're wrong again. President Obama has cut taxes for all working Americans -- in fact tax levels are nearly the lowest they've been since the 1950s. So, when Karl Rove says the president broke his promise on middle class tax cuts, he's not telling you the truth.

But, If Mitt Romney wants to have this argument, we are happy to have it. Because when he ran for governor of Massachusetts, he promised to cut taxes too. But unlike the President, he actually did break that promise -- he hiked taxes and fees by $750 million per year on Massachusetts families and Massachusetts small businesses.

Third, the ads talks about health care. And you'll like this one because we've heard it before. It says that you won't be able to keep the insurance plan that you have. Now that's just flat out wrong. If you like your plan if you want to keep it -- you can. In fact, the president made that plan stronger.

You know what Mitt Romney says about Obamacare?

ROMNEY: 'If I'm President, I will repeal Obamacare and I'll kill it dead on it's first day.'




'Kill it dead' Affordable coverage? Gone. Protections against insurance companies? Gone. Kids with preexisting conditions getting coverage? Not anymore. Not under Mitt Romney.

Fourth up is an attack on the president's plan to cut the deficit. The President has already enacted $1 trillion in spending cuts to help reduce our deficit—and has a balanced plan to cut the deficit by $4 trillion over the next 10 years.

Under Mitt Romney? The deficit would not just go up, it would go way up. Just like in Massachusetts, where he promised to reduce the debt, but actually increased it by 16 percent. As President, he'd add $5 trillion to the deficit because of a $250,000 tax cut for every millionaire and billionaire in this country that he's not paying for.

So -- another special interest attack ad, another set of outright distortions, and another time when I need to ask you to do what you do best: get the president's back. Karl Rove is relying on you doing nothing to call out his BS -- and I know you'll prove him wrong. Tweet this video to your friends, Facebook it so people you know see it, post it on your Tumblr -- and let's make sure people get the truth.

Thanks for helping us fight back."