Ad watch: ‘Chinese Professor’ going back on the air

Citizens Against Government Waste and Americans for Prosperity Foundation, "Chinese Professor"

What it says: In Chinese, "America tried to spend and tax itself out of a great recession. ... Of course, we owned most of their debt. So now they work for us." It's the same ad seen in the fall of 2010

What it means: The striking ad, which suggests that America will fall and China will rise thanks to our profligate borrowing and spending, was among the most memorable spots of the 2010 midterm elections. Now it's being enlisted to help Mitt Romney beat President Obama. The U.S. has actually become less reliant on Chinese credit over the past two years, but the country remains a major lender. China has spent heavily to bolster its own economy.

Who will see it: The ad will air tonight on Fox News, after the debate. Other networks include CNN, MSNBC, Headline News, AMC, Fox Business and Hallmark. So far it's a $2 million buy; $8 million was spent on the ad in the 2010 election. 

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