"You and I know it's true, but not politically correct," he says, hitting foreign aid — he has said he wants to take the budget back to zero and re-evaluate each country from there — and "congressmen becoming lobbyists." The last line could be taken as a gibe at Newt Gingrich, who has taken heavy criticism from fellow GOP candidates Mitt Romney and Ron Paul recently over his consultant work for Freddie Mac, though Perry does not name names.

Perry is starting a two-week bus tour Wednesday to visit 42 Iowa towns. He has refocused his Iowa campaign with an emphasis on retail politics, reportedly his area of campaign strength, and this ad is the latest in a series of ad buys in Iowa.

Perry continues to trail the front-runners in the state, just weeks before the Jan. 3 caucuses. He earned 8 percent of the vote in a University of Iowa poll of likely Republican caucus-goers on Monday, while an American Research Group poll, also released on Monday, had him at 13 percent.

Watch the ad below: