Obama TV ad uses debate to hit Romney

Barack Obama is already going up with a new TV ad, hitting Mitt Romney for saying during last night's debate that he's not for a $5 trillion tax cut.

The spot will air in Ohio, Virginia, Iowa, Florida, Colorado, New Hampshire, and Nevada.

So who's right about the tax plan?

Well, in a nutshell, the Pulitzer Prize-winning Politifact rules that Obama's claim about Romney's tax cut is "a misleading statement", but also that Romney's plan is "incomplete".

In other words, Romney hasn't laid out certain specs about the tax plan, so Obama is making assumptions for him and inserting his own conclusions based on the incomplete data Romney's providing.

So both bear some culpability for the confusion, but you can decide which you're more uncomfortable with -- Romney's ambiguity or Obama's assumptions.