This is BusinessWeek, not some partisan political blog. And it says this:

This ad asserts a McCain campaign talking-point that Obama wouldn’t make time for wounded troops unless cameras were allowed to follow him, but did make time to work out at a gym. This, of course, is a lie. It’s a blatant lie.

There is no other word for it. Read the rest of the article for more on the ads run last week, including an ad McCain had ready if Obama had visited the troops.

(found via Political Wire)