American Crossroads, the independent expenditure group that, together with affiliated Crossroads GPS, spent more than $40 million targeting Democratic candidates in 2010 is unleashing a brutal attack on President Obama's economic record far in advance of the 2012 election.

Crossroads GPS has announced a $20 million nationwide campaign over the next two months, starting Monday with a $5 million ad buy on national cable channels and targeted local stations in the swing states of Colorado, Florida, Iowa, Missouri, Montana, Nebraska, North Carolina, New Mexico, Nevada, and Virginia.

The ad, "Shovel Ready," contrasts Obama's statements about economic growth with sobering statistics on unemployment, debt and gas prices. The 30-second spot includes the president's joke at a campaign event in North Carolina about the unmet expectations of his 2009 stimulus package: "Shovel ready was not as shovel ready as we expected."

The spot closes with the announcer saying: "14 million out of work, America drowning in debt: It's time to take away Obama's blank check."

You can watch the ad by CLICKING HERE.

Chris Stirewalt joined Fox News Channel (FNC) in July of 2010 and serves as digital politics editor based in Washington, D.C.  Additionally, he authors the daily "Fox News First" political news note and hosts "Power Play," a feature video series, on FoxNews.com. Stirewalt makes frequent appearances on the network, including "The Kelly File," "Special Report with Bret Baier," and "Fox News Sunday with Chris Wallace."  He also provides expert political analysis for Fox News coverage of state, congressional and presidential elections.