Iowa and New Hampshire will be the first lucky states to hear Ron Paul issue his stern warning against raising the federal debt limit, as his new ad hits the airwaves in the early-voting states.

Part of a six-figure ad buy, the 60-second spot is only the latest move in the congressman's push for a serious campaign, Politico reported.

In the '80s, they did it to Reagan, a narrator says. A debt ceiling compromise: Democrats promising spending cuts and delivering only tax hikes. The '90s brought more compromises.

The ad warns that the next chapter will be written, and images of President Barack Obama, Harry Reid and Nancy Pelosi pop up across the screen as the narrator says, We know where they stand. But will our party leaders repeat the mistakes of the past? Will they choose compromise or conviction? One candidate has always been true. Ron Paul: Cut spending, balance the budget, no deals. Standing up to the Washington machine, guided by principle. Restore America now.

The spot is set to begin airing Friday.

On Tuesday, the libertarian Texas congressman said he won't seek re-election to his House next year, whether or not he wins the Republican presidential race.

Paul, who has served his Texas district for over 22 years, is retiring to focus on his presidential bid.

I felt it was better that I concentrate on one election, Paul said. It's about that time when I should change tactics.

His announcement which comes much in advance of the December primary filing deadline said he wanted his constituents to know ahead of time.

I didn't want to hold off until in December, he said. I thought it shouldn't be any later than now.

Paul ran for re-election to his House seat in 2008 as he was seeking the Republican presidential nod. While he spent much of that election campaigning nationally, Paul handily won a challenge from a local city councilman.

Congressional redistricting will change the 14th district south of Houston where Paul serves; however, it will remain heavily Republican, and the GOP should easily retain it.

Paul recently announced he was running for the Republican Party's 2012 U.S. presidential nomination, saying the time was right for his message of fiscal conservatism. In the past several months, Republicans in Washington have been pushing for federal budget cuts with some degree of success, although Democrats, which still control the U.S. Senate and the White House, have limited the extent of cuts.

Having a Republican in the White House would speed through an agenda which resonates with Paul and Republicans.

One example of the log jam that could be mitigated were a Republican in power at the White House would be the latest 2012 budget negotiations.

We are tremendously excited to have Ron Paul here in Mason City, said James Mills, Paul's co-chair for the 4th district for Iowa in a press release. Ron Paul has shown he is willing to spend time in Iowa and meet with voters to listen to their concerns.