Politifact.com: “Tiny” Ad Makes Large Error. Back in May, McCain made the claim in an address to the National Restaurant Association in Chicago.

We rated that claim False. We examined it again in August when the ad first aired and again found the statement to be False. But the ad will be new to many viewers this week, so we are revisiting it here.McCain is distorting Obama’s original comments…McCain twisted Obama’s words when he claimed that Obama characterized the threat from Iran as tiny or insignificant. Obama never said that. …This isn’t the first time Obama has talked about the grave threat posed by Iran. He has repeatedly characterized it as such during his campaign. Obama never said the threat from Iran was “tiny” or “insignificant,” only that the threat was tiny in comparison to the threat once posed by the Soviet Union. And if the McCain campaign was unclear on that point, it should have been clear after Obama’s comment in May that “Iran is a grave threat.” To continue to twist Obama’s words, especially after that clarification, earns another False. [Politifact: http://politifact.com/truth-o-meter/statements/828/]