President Obama has a bone to pick with Mitt Romney's latest commercial. (Getty)

President Obama was not pleased with Mitt Romney's new campaign commercial. Mr. Romney's ad featured an out of context clip of a 2008 speech that made it seem as though the President said, “If we keep talking about the economy, we’re going to lose.” In the 24 hours since Mr. Romney's attack hit the airwaves President Obama's aides and Romney campaign staff have been slinging meta-mud about the commercial behind the scenes. "They tried to get away with a blatant deception and got caught," Obama campaign advisor David Axelrod told Politico.

In the speech shown in the ad, President Obama was referring to his 2008 election rival John McCain who he saw as reluctant to discuss the economy. Though the Romney campaign acknowledged this in an email announcing the commercial, nothing in the ad itself makes it clear the President isn't talking about himself.

“The longer that fraudulent ad plays, the more it will come to characterize a candidate and a campaign who think nothing of fudging facts and changing positions on fundamental issues from day-to-day and even minute-to-minute," Mr. Axelrod said.

White House Press Secretary Jay Carney also blasted the ad as "deceitful and dishonest."

In an email to Politico, Mr. Romney's team dismissed the Obama campaign's criticism of the commercial as hypocritical.

“These guys have attacked Romney in one form or another hundreds – yes, hundreds – of times over just the last few weeks,” Mr. Romney's media strategist Stuart Stevens said.

Mr. Stevens seems quite pleased to have provoked such a strong reaction from President Obama's aides.

"It is now my goal for every ad we make to so upset the White House that they will force Jay to go out with his light saber and do his thing,” Mr. Stevens said.