UPDATE: 10/26, 7:15a: From Erick Erickson:

The reason Barack Obama is running this ad is because he is done trying to get independent voters. He’s given up. Despite campaign rhetoric about fighting for evangelicals, he’s given up there. He’s given up on Catholic voters. He’s given up on the South. He’s given up on men who have daughters. He’s given up on moms. He’s given up on everyone expect his core base of singles, gays, and minorities, including college kids he is desperate to get back to the polls.

10/25, 8:22: How low will they go? The Obama people apparently just can’t keep their minds off of lady parts…

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These people are just plain sex-obsessed.  This is an ad from the President of the United States?