In the ad, Perry says that a "broken" Washington in need of "a complete overhaul" will require an outsider candidate like him to fix unemployment and the debt.

"I'm the outsider who's willing to step on some toes," Perry says. "I want to force Congress to balance the budget and if they don't, I say we cut their pay in half, send them home."

The ad is Perry's fourth in Iowa, where the Texas governor hopes his war chest - built up during initial interest in his candidacy - can help him to recover from a series of stumbles in Republican presidential debates. 

Perry has also been aggressively conducting media interviews in the past week as he attempts to slow his free-fall in the polls and recover some of his early traction in the GOP race.