Posted at 03:26 PM ET, 12/15/2011

Romney’s new Iowa ad

Mitt Romney is up on the air with a new ad in Iowa where he frames the fiscal crises in moral terms.

“We have a moral responsibility not to spend more than we take in,” he says in the 30-second ad. “It is a moral responsibility to believe in fiscal responsibility.”

The ad closes with a shot of Romney strolling with his wife, Ann.

Best case scenario for Romney (other than first place): Ron Paul wins it all in Iowa, with Romney and Gingrich in a virtual tie for second and third. It could happen.

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