YouTube: Hillary Clinton's negative ad

This ad is widely being depicted as Hillary Clinton's decision to "go negative" against Barack Obama, but I don't get it.

Yes, the announcer has a mildly snide tone of voice. And yes, it's challenging Obama's position on the issues (as well as his refusal to debate in Wisconsin). But this doesn't qualify, to me, as "negative" advertising: It's issue-based, and it doesn't seem to involve any massive distortions of (or lying about) Obama's record.

So it's substantive and reasonably truthful -- about all you can ask for in 30 seconds. Will.I.Am can't make every video, can he?