CNN) — A new Republican ad appears to suggest that Barack Obama has all but won the presidential race, an argument several vulnerable Senate Republicans may have to reluctantly embrace with only days until Election Day, an expert in campaign advertising said.

Aimed at Kay Hagan, Sen. Elizabeth Dole’s surprisingly strong Democratic challenger in North Carolina, the 30-second spot from the National Republican Senatorial Committee warns voters against Democrats holding the White House and Congress, and flatly states that if Hagan wins, the party will “get a blank check.”

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