Obama and Romney super PACs launch competing ads

On Wednesday, Priorities USA Action and Restore Our Future, super PACs supporting President Barack Obama and Republican nominee Mitt Romney respectively, launched dueling presidential ads.

The ad campaigns will run, in part, throughout battleground states in the Midwest. Both groups are spending money in Wisconsin, a notable move since the Badger State hasn't supported a Republican for president since Ronald Reagan in 1984. The increased ad spending there suggests that each side sees these electoral votes as up for grabs.

The pro-Obama Priorities USA ad, which hits Romney for telling donors that 47 percent of the American population consider themselves "victims" is part of a larger $30 million campaign that will play in Colorado, Florida, Iowa, Ohio, Virginia and Wisconsin. The length of the run is still to be determined, said Priorities USA President Bill Burton. "Depends on how long it takes for Romney to attack the middle class in some new way," he said.

The new ad from the pro-Romney Restore Our Future super PAC focuses exclusively on the Midwest, and will cost $1.2 million to run in Michigan and $1 million to play in Wisconsin. The ad, which highlights that millions of Americans "have dropped out of the workforce since Obama became president," will air for one week.