Obama, Romney campaigns continue attacking each other on economy, taxes

"My initial response was one of being insulted for not just myself, but really for our entire team," Ball says in the ad, released Thursday. "I’ve seen customers and companies go out of business. I’ve seen friends lose jobs. It certainly doesn’t feel like it’s working. We need a president who understands business. Who understands what it means to make payroll. Who understands what it means to grow a business and to be successful."

Meanwhile, the Obama campaign released its second ad, "Stretch," attacking Romney over taxes.

"But chances are you pay a higher tax rate than him," the voiceover in the ad says. "He pays less. You pay more."

The ads are representative of where each campaign is focusing its attacks. The Romney campaign is hoping to portray Obama as lacking the understanding of how to improve the economy, while the Obama campaign wants to paint Romney as being in favor of tax policies that benefit the wealthiest Americans, to the detriment of the poor and middle class.