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    UPDATE 1-Obama and Romney battle for campaign edge in Iowa, Colorado

    * White House rivals take message to battleground states

    * Reuters/Ipsos poll says Obama increased lead over Romney

    * Vast majority of campaign ads have negative slant

    DES MOINES/DENVER, Aug 8 (Reuters) - President Barack Obama

    and his Republican rival Mitt Romney traded barbs over the

    economy and women's rights on Wednesday, each seeking an edge in

    critical states that could tip the result of the Nov. 6

    election.

    Romney, who told supporters in drought-ravaged Iowa that

    their state felt like a "second home," accused the Democratic

    president of mismanaging the economy and unraveling rules that

    require welfare recipients to get jobs.

    A second term for Obama would lead to "chronic high levels

    of unemployment as far as the eye can see," the former

    Massachusetts governor told an enthusiastic crowd at Des Moines'

    Central High School.

    "It's tough to be middle class in America today," he said.

    Obama, meanwhile, began a two-day campaign swing in Colorado

    with a pitch to women voters, another key constituency in what

    is likely to be a close election that will hinge on politically

    divided states such as Colorado, Iowa, Ohio, Florida and

    Virginia.

    He told a mainly female audience in Denver that Romney and

    his fellow Republicans wanted to limit access to birth control

    and would permit insurance companies to deny women coverage

    because of pre-existing conditions "like breast cancer or

    cervical cancer."

    "When it comes to a women's right to make her own healthcare

    choices, they want to take us back to the policies more suited

    to the 1950s than the 21st century," Obama said. "Colorado,

    you've got to make sure it does not happen."

    The president, who has been polling well ahead of Romney

    among women, referred to his mother's struggle with cancer and

    his hopes for his daughters in a speech laced with personal

    references.

    Obama was introduced at the event by Sandra Fluke, the

    Georgetown University law school graduate whom conservative

    talk-show host Rush Limbaugh called a "slut" earlier this year

    for her outspoken support of Obama's contraception coverage

    policy.

    Fluke's emergence on the campaign trail signaled that

    Obama's team - which has sought to cast Romney as an

    out-of-touch protector of the wealthy who is indifferent to the

    middle class - will seek to make the most of Obama's advantage

    among women voters, which several polls have estimated to be in

    double digits.

    Obama praised Fluke as a "tough and poised young lady,"

    adding that she "was brave to stand up for herself, and an

    eloquent advocate for women's health."

    A SLIGHT EDGE FOR OBAMA

    As the Obama and Romney campaigns traded blows, several new

    polls indicated that the president has a slight lead in the race

    for the White House, three months before election day.

    A Reuters/Ipsos poll showed Obama's lead over Romney among

    registered voters at 49 percent to 42 percent, up slightly from

    the 6-point advantage the president held a month earlier over

    the former Massachusetts governor.

    Separately, an ABC News/Washington Post poll showed 49

    percent of Americans view Romney unfavorably, compared with 43

    percent of voters who gave Obama unfavorable marks.

    And the latest poll from Quinnipiac University, CBS and the

    New York Times showed Obama ahead of Romney in Virginia and

    Wisconsin but trailing the Republican contender in Colorado.

    Obama campaign spokeswoman Jennifer Psaki said there would

    be a tough fight in key states and her team was tailoring the

    president's travel accordingly.

    "We know the race is going to be close," she told reporters

    aboard Air Force One. "We are not leaving any stone unturned, we

    are not taking any votes for granted."

    AD BLITZ

    In an advertising blitz focused on a dozen pivotal states,

    Obama and his fellow Democrats have hammered Romney's record as

    a private equity executive at Bain Capital, accusing him of

    plundering companies and shipping jobs overseas.

    Romney has centered his race on the notion that he would be

    better than Obama at dealing with the economy - the dominant

    issue for voters, according to the Reuters/Ipsos poll.

    His campaign spent $30.8 million on broadcast, cable and

    radio ads in July, compared to $50.3 million by the Obama camp,

    according to SMG Delta, which tracks political ad spending.

    Much of the advertising firepower is held by independent

    political action committees, or "Super PACs," that can raise and

    spend unlimited funds as long as they don't coordinate with

    official campaigns.

    Restore Our Future, the pro-Romney Super PAC, was absent

    from the airwaves for much of the summer but is back on

    television in 11 states with a $7.2 million ad buy that

    highlights Romney's success at turning around the 2002 Salt Lake

    City Winter Olympics' budget deficit.

    The pro-Obama Super PAC Priorities USA has been running

    attack ads since early May and is planning to invest $20 million

    in its latest blitz.

    The group has run six ads painting Romney as a cruel

    corporate raider, five of which feature workers laid off by

    companies bought out by Bain Capital.

    Last week, Ken Goldstein of the ad buy-tracking firm Kantar

    Media said that of the $246.2 million spent on campaign ads in

    this election cycle, only 28 percent went toward positive spots,

    while 72 percent paid for negative ones. Most have focused on

    nine states: Colorado, Iowa, Nevada, New Hampshire, North

    Carolina, Ohio, Pennsylvania, Virginia and Florida.

    Both candidates will focus their campaigning on "swing"

    states next week.

    Romney is doing a bus tour in Virginia, North Carolina,

    Florida and Ohio starting on Saturday, and Obama will travel to

    Iowa for a three-day bus tour starting on Monday.

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