The current news cycles is all about GOP challenger Mitt Romney's time at Bain Capital and whether he oversaw any of the layoffs or outsourcing. Obama's team is also getting a reaction by demanding more of Romney's tax returns, which could clarify his role.

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"We'll put out two years of tax returns and we'll put the most recent out," Romney says.

The nastiness and rhetoric have hit new heights.

Obama continues to paint Romney as an outsourcer.

“We found out there’s a study out by non-partisan economists that said Governor Romney's economic plan would in fact create 800,000 jobs,” Obama said. “There's only one problem. The jobs wouldn't be in America.”

Romney's team, and possible running mate Rob Portman, called it nothing but a distractionary tactic.

"He's making a big election about small things,” Portman says. “He's attacking Mitt Romney on a personal basis. Why? Because he doesn't want to talk about his record.”

And both are now almost exclusively running negative ads, though the president has roughly twice as many hitting the air. In a two week period, one ad agency says team Obama ran 37,000 - compared to Romney's nearly 14,000.

And the political lows are also marked by high notes. Obama's team used Romney singing in its latest ad. And on Monday, the Romney camp returned the favor.