UPDATE: A source tells us that the ad will be running in the Grand Junction, Colorado Springs and Denver media markets.

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Crossroads GPS, the 501(c)4 arm of American Crossroads, is going up with a $25 million ad buy across 10 swing states, matching the Obama campaign's own $25 million ad blitz dollar-for-dollar. In Colorado, the ad buy is $208,000 over the next four weeks.

The ad hits Obama on a list of his broken promises, fitting into the narrative in the RNC ad that launched this week in Colorado on Obama's broken promise to "cut the deficit in half by the end of his first term."

As we pointed out yesterday, a recent study by Stanford University found voters do not like politicians who break promises. The Stanford study found voters even dislike politicians who break promises that they don’t even agree with in the first place. With such a long list of broken promises, Obama will have a lot of explaining to do.

The other states being targeted are Florida, Iowa, Michigan, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania and Virginia.