There is a new radio ad out featuring former Secretary of State and Republican Colin Powell's enthusiastic endorsement of President Barack Obama. Below is a transcript of the commercial, followed by a YouTube clip of the ad.

Narrator: He served America as a four-star general, as secretary of state, here's Republican Colin Powell on CBS.

Charlie Rose: Will you endorse President Obama?

Colin Powell: Yes. When he took over we were in one of the worst recessions we had seen in recent times, close to a depression. The fiscal system was collapsing. Wall Street was in chaos and we were in very difficult straits. And I saw over the next several years stabilization come back in the financial community, housing is starting to pick up. Consumer confidence is rising. The President saved the auto industry.

I also saw the President get us out of one war, start to get us out of a second war and the actions he has taken with respect to protecting us from terrorism have been very, very solid.

I think we ought to keep on the track that we are on.

Charlie Rose: General Powell, thank you very much for this.

Narrator: Moving our economy forward; a safer America; President Obama.