The GOP candidate's ad has already lied in saying that stimulus funds were handed out to "friends and family". There is no evidence of such corruption or cronyism under Obama's stimulus. But maybe he was projecting, or using a classic Rove tactic of accusing his opponent of what he once did himself in Massachusetts:

When Romney was governor, the state handed out $4.5 million in loans to two firms run by his campaign donors that have since defaulted, leaving taxpayers holding the bag.

The two companies — Acusphere and Spherics Inc. — stiffed the state on nearly $2.1 million in loans provided through the state’s Emerging Technology Fund, a $25 million investment program created while Romney was governor in 2003 that benefitted 13 local firms.

Acusphere, a biotechnology firm headed by a Romney campaign donor, got $2 million in 2004 that it was supposed to put toward a $20 million manufacturing facility in Tewksbury, which never became fully operational…

The loans were approved by a seven-person advisory board that included two Romney appointees and three Romney campaign contributors, a Herald review found.

This story was in the Boston Herald, by the way. Not exactly a knee-jerk liberal publication.