The Romney campaign is dropping the "L" word.

In a new television ad, Mitt Romney calls President Obama dishonest and asks the American people how they can "trust him to lead" if he "doesn't tell the truth." The release which accompanied the ad in an email to reporters also cited Obama's "lies and exaggerations."

The ad titled, "No Evidence," is an aggressive rebuttal to Obama's claims that Romney outsourced jobs while at the helm of his private equity firm Bain Capital.

"There was no evidence that Mitt Romney shipped jobs overseas," a narrator says.

Incorporating text from Washington Post labeling Obama's outsourcing attacks as "misleading, unfair and untrue," the ad goes on to say that "America expects more from a President."

Revisiting the 2008 election, the video charges that then candidate Obama "lied about Hillary Clinton," including the famous clip of Hillary Clinton scolding, "Shame on you, Barack Obama."

The 30 second ad appears on the GOP candidates website next to a description reading "just like he did against Hillary Clinton, President Obama now continues to spread his dishonest attacks."

The ad is just one charge in an all-out offensive staged by the Romney campaign depicting the President as dishonest. They simultaneously put out a release Thursday morning mirroring a late night show's top ten list of Obama's "lies and exaggerations," with Obama's outsourcing claims topping the list.

The Obama campaign pushed back in a statement charging the ad is part of Romney's "big Bain lie."

Relying on a report in the Globe claiming government documents reveal Romney remained CEO of Bain for three years longer than he claimed, the Obama camp statement goes on to say the ad is "based on a false premise."

"The fact is that Romney, despite his big Bain lie, served as president and CEO of his corporate buyout firm until three years later and is responsible for the American jobs that were shipped overseas during that period," the statement reads, then continues to call for Romney to release more tax returns.

"Romney owes it to voters to shed light on his departure from Bain and financial arrangements by following the precedent set by his own father and releasing additional tax returns. Only once he's straight with them on these issues can the American people make their own judgments about Romney's record and motivations."