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(LAUGHTER) YELLIN: But starting now, the president's top surrogate is.BIDEN: Mitt Romney, Rick Santorum and Newt Gingrich, these guys have a fundamentally different economic philosophy than we do. He said that what we propose, and I quote, is even worse than bankruptcy. Gingrich and Romney and Santorum, they don't let the facts get in their way. They're about no rules, no risks, and no accountability.(END VIDEOTAPE) YELLIN: Now, Wolf, two Democratic officials tell me the campaign had planned this rollout for today for this time, because they actually expected the Republicans would have a nominee by now, and they say they couldn't wait until say May or June before basically responding to Republican attacks and in the words of one drawing some contrasts.

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YELLIN: In a key battleground state of Ohio, he talked auto industry bailout and was on the attack. Simply stated, we're about protecting the private sector. YELLIN: It comes the same day the campaign unveils this 17- minute long-form campaign ad.

BIDEN: Senator Santorum said it was, and I quote, a payoff to special interests, end of quote. NARRATOR: How do we understand this president and his time in office?

WOLF BLITZER, CNN ANCHOR: Happening now: (BEGIN VIDEO CLIP) JOSEPH BIDEN, VICE PRESIDENT OF THE UNITED STATES: The economic theories of Gingrich, Santorum and Romney, they are bankrupt.

(CHEERING AND APPLAUSE) BIDEN: If you give any one of these guys the keys to the White House, they will bankrupt the middle class again. The Obama campaign is now going directly on the attack against the Republican presidential candidates.

That task is now falling to Vice President Joe Biden.