The Washington Times - May 1, 2012, 08:49AM

The Obama campaign began airing an ad Tuesday that portrays Mitt Romney as a man who outsourced jobs and tried to hide a Swiss bank account.

Called “Swiss Bank Account,” the 30-second spot is airing in the battleground states of Virginia, Ohio and Iowa.

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President Obama and first lady Michelle Obama will formally kick off the re-election campaign Saturday with rallies at Ohio State University and Virginia Commonwealth University.

The spot begins by defending Mr. Obama against Republicans’ attacks on his energy agenda, including the failed investments in Solyndra and other solar companies. The ad says the president’s advocacy of green energy has created jobs in the U.S. Then it targets Mr. Romney, the presumptive Republican presidential nominee, for outsourcing jobs as a venture capitalist and as governor of Massachusetts.

“It’s just what you’d expect from a guy who had a Swiss bank account,” the narrator says, telling voters that the Republican failed to disclose income from the account.

A spokeswoman for the Romney campaign called the new ad “desperate.”

“With the worst job creation record in modern history and the slowest economic recovery since the Great Depression, President Obama is trying to distract Americans from the real issues with a series of sideshows,” said campaign spokeswoman Amanda Henneberg. “Unable to defend his failed record of 23 million Americans struggling for work, wasteful boondoggles like Solyndra, skyrocketing national debt, and unacceptably high energy prices, President Obama has once again resorted to attacking Mitt Romney. The American people have suffered enough over the last three years and deserve better.”