The ad, which runs about three minutes and twenty seconds, opens with an idyllic scene of sheep running and grazing in a sunny meadow, as a female narrator extols the supposed virtues of fiscally conservative politicians: "purity, piety: our fiscal conservative leaders. Men we admire; aspire to be: wholesome, honorable, true believers. Men like Tom Campbell, who would never lead us astray; his pedestal, so high..." From behind the hillside, a cut-out animation in the style of
Terry Gilliam depicts a sheep rising into the sky on top of a
Doric column. Suddenly, the sky darkens, storm clouds roll in, and lightning strikes the pillar, which vanishes. The sheep then tumbles end-over-end in slow motion, as ominous music begins to play, and the original narrator gives way to a stern male voice (veteran actor
Robert Davi), questioning Campbell's record and credentials as a fiscal conservative. The next part of the ad blames Campbell, who was California's Director of Finance from 2004 to 2005, for California's budget woes, as images of Campbell are alternated with footage of sheets of money being printed, played at increasing speed, and images of pigs, sheep, out-of-business signs, and a close-up of the word "deficit" in a dictionary. The narrator asks, "who would remember the Tom Campbell Budget?" as pictures of people from various walks of life appear, each of them wearing a concerned expression; the narrator answers his own question: "we would." As hundred-dollar bills float by in the background, the narrator castigates Campbell for having supported various taxes, especially an increase in the gasoline tax, proposed following the
2008 financial crisis. Images of Campbell now alternate with footage of a sheep chewing its cud at increasingly rapid speeds. In a sarcastic tone of voice, the narrator repeatedly asks "Tom" whether his actions or stances on various issues were "fiscally conservative". Campbell's support for other taxes, and having been "critical of the
Bush tax cuts" are also mentioned, as an image of Carly Fiorina's signature on the
Taxpayer Protection Pledge appears. The ad calls Campbell the "only Republican candidate" not to sign the pledge. At this point, the ad returns to footage of sheep in a meadow, and Campbell is described as an "FCINO: Fiscal Conservative In Name Only", while a man wearing a sheep costume with glowing red eyes peers out from behind a tree. The "Demon Sheep" then crawls on his hands and knees amongst the flock, pretending to eat grass, and repeatedly making sinister glances at the camera. The narrator explicitly calls Campbell a wolf in sheep's clothing, who has set California on the path to "bankruptcy and higher taxes," as the words "has he fooled you?" appear in the foreground. The narrator asks, "might there be a better choice?" The ad abruptly changes tone, shifting to an office setting, with an unnamed woman in a business suit meeting with clients. The woman is seen only indirectly, but implied to be Carly Fiorina, and the narrator describes her in an approving voice, as a hard-working and proven fiscal conservative. The ad closes with dramatic music and the address of Fiorina's campaign website. ==Reception==