New Obama ad says Romney's 'top-down approach' would hurt economy

"Over the next four months you have a choice to make — not just between two political parties or even two people. It's a choice between two very different plans for our country," Obama says in the ad. "Gov. Romney's plan would cut taxes for the folks at the very top, roll back regulations on big banks. And he says that if we do our economy will grow and everyone will benefit. But you know what? We tried that top-down approach. It's what caused the mess in the first place."

Obama then details his own vision for the country. 

"I believe the only way to create an economy built to last is to strengthen the middle class," he continues. "Asking the wealthy to pay a little more so we can pay down our debt in a balanced way so that we can afford to invest in education, manufacturing, and homegrown American energy for good middle class jobs.

“Sometimes politics can seem very small,” Obama concludes, “but the choice you face, it couldn't be bigger."

Romney's campaign pushed back.

"President Obama believes that government creates jobs, not hard-working entrepreneurs and small-business owners," spokesperson Amanda Hennegerg said in a statement. "Not only are his 'you didn't build that' comments insulting to job creators, but they also reflect how unqualified he is to lead our country toward an economic recovery. Instead of meeting with his Jobs Council, he is busy holding fundraisers, playing golf and trying to tear down Mitt Romney. Mitt Romney will never be too busy to focus on jobs and the economy and it will be his top priority as president."

This post was updated at 6:05 p.m.