Conservative group Crossroads GPS will begin a $20 million campaign over the next two months against President Barack Obama, hammering him on the economy.

The campaign includes a $5 million ad buy over the next two weeks on local network and national cable television in 10 states, including the key swing states of Colorado, Florida, Missouri, North Carolina and Virginia.

The ad criticizes Obama’s economic record, citing high unemployment, the national debt and the price of gasoline since he took office. It also dings the president for his stimulus plan and his admission that the jobs it was supposed to create were “not as shovel-ready as [he] expected.”

The spot ends with a female narrator saying, “It’s time to take away Obama’s blank check.”

Crossroads GPS and its counterpart American Crossroads are likely to spend millions of dollars in the 2012 cycle. Chairman of American Crossroads Mike Duncan said on Friday that the two groups were aiming to spend $120 million on House, Senate and presidential races.

Watch the ad: