With the national political class tuning into the Colorado GOP caucuses today, conservative advocacy group Compass Colorado is taking advantage of the spotlight to light up President Obama in a new hard-hitting web ad. The ad takes aim at the abysmal economic record of Obama and his administration, reminding viewers of Obama's now infamous promise that passing the failed trillion dollars stimulus would prevent unemployment from going over 8%, where it has stood for 36 straight months.

In announcing the video, Compass Colorado President Tyler Q. Houlton said:

“President Obama has failed to fulfill his promise to lead America out of our economic recession, President of Compass Colorado.

Obama’s broken promises, irresponsible spending, and mountains of debt have devastated Colorado’s working families and job creators.”

Check it out:

The transcript of the ad is after the jump:

ANNOUNCER: For 36 straight months, America’s unemployment rate has been over 8 percent.

PRESIDENT OBAMA: “Yes, but its not 12 or 13 or 15.”

ANNOUNCER: President Obama promised unemployment wouldn’t climb over 8 percent if his $830 billion stimulus bill passed. That didn’t happen.

OBAMA: “The job losses from this recession proved to be much more severe.”

ANNOUNCER: Here in Colorado, tens of thousands of jobs have been lost since Obama took office.

OBAMA: “Everybody understands that job growth has been lagging.”

ANNOUNCER: All because of Obama’s failed leadership, trillions in new reckless government spending, and mountains of debt for future generations.

ANNOUNCER: Broken Promises. Failed Policies. Struggling Colorado Families.

ANNOUNCER: Call President Obama. Tell him Colorado needs jobs, not more irresponsible spending.