Hollywood-Funded Super PAC Blasts Mitt Romney in Internet Attack Ad (Video)

The pro-Obama super PAC funded heavily by Hollywood mogul Jeffrey Katzenberg has gone on the attack this week against Republican presidential hopeful Mitt Romney.

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A hard hitting and slickly produced video, titled "Mitt Romney's America," shows Republican strategist Karl Rove predicting Obama's defeat. The video, posted on YouTube, then follows with clips of Romney praising the Tea Party and dismissing the woes of unemployed Americans facing foreclosure and other economic hardships, which the 1 1/2 minute ad alleges will worsen if Romney is elected.

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The former Massachusetts governor is considered by Obama's strategists as the most likely Republican nominee and the president's toughest foe.

Obama himself has predicted that the coming election will be "very close."

Priorities USA, the super pac that released the ad, was formed as a Democratic counterweight to Rove's more established super PAC Crossroads, which played a key role in helping the Republicans gain back control of the U.S. House of Representatives.

As of the last reporting period, Katzenberg had donated $2 million to the super PAC, the overwhelming majority of what the group had raised at that point. Also donating to the group was director J.J. Abrams.