The Romney campaign unveiled a new advertisement on Wednesday that contends that under President Obama, stimulus money went to the president’s political friends and donors and to overseas companies.

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0:01 Stimulus

Referring to the 2009 stimulus law backed by President Obama and passed by the Democratic-controlled Congress, the ad asks where “all” the stimulus money went and then answers its own question by saying to special-interest groups and friends and backers of Mr. Obama. But of $763 billion in stimulus used so far, the largest amount has been hundreds of billions of dollars for such things as a tax credit for working middle-income families, larger exemptions for families hit by the Alternative Minimum Tax, public school funding and Medicaid grants.

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0:09 Solyndra

The ad accurately notes that a little over $500 million was for loan guarantees for Solyndra, a solar energy firm that collapsed last year. The company’s largest investor was a nonprofit antipoverty foundation whose major backer is an Obama fund-raiser. But another major Solyndra investor was a firm thatwhose employees? includes donors to the Republican party.

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0:17 Cars in Finland

The ad’s claim that stimulus money went to “electric cars from Finland” is false, according to the car’s manufacturer and the Energy Department. The struggling company, Fisker Automotive, received approval from Obama administration officials for $529 million in government loans under a George W. Bush-era program, not the stimulus. Most of that loan, intended for a plant in Delaware, has been suspended. The $193 million actually lent to Fisker was spent in the United States, not in Finland, according to Fisker and the Energy Department.

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0:21 Schumer’s Criticisms

Senator Schumer is complaining that 79 percent of $2.1 billion in stimulus grants went to overseas companies, referring in part to wind turbines made in China. But this is one narrow slice of the overall stimulus.

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The ad tries to tarnish Mr. Obama as someone who rewarded cronies with taxpayer stimulus funds, a tough response to the Obama campaign’s recent attacks on Mr. Romney’s investments and business career.