Paul drops $2M in new TV ads to criticize rivals

By PHILIP ELLIOTT | October 22, 2011 | 4:03 PM EDT

WASHINGTON (AP) — Republican presidential contender Ron Paul is spending $2 million on television ads that criticize his rivals for supporting federal spending, while touting Paul's proposal that would drastically shrink Washington's bottom line.

Paul on Thursday unveiled a 60-second ad that cast White House hopefuls Mitt Romney, Rick Perry and Herman Cain as spend-happy politicians who are not true conservatives.

A second ad, also set to run for two weeks, promotes Paul's plan to cut $1 trillion from the federal budget, eliminate five Cabinet-level agencies and stop spending U.S. tax dollars abroad on wars or aid.

Further seeking to criticize his rivals, Paul's campaign has been mailing voters saying Romney, Perry and congresswoman Michele Bachmann of Minnesota are all beholden to unions.