Wolf Pack Ad turns out to be a (surprise) lie

The new Bush ad directed to the all important Little Red Riding Hood vote ("vote for Kerry and be eaten by wolves") turns out to be be based on a lie. It states that after 9/11 Kerry voted to cut intelligence spending by billions of dollars. Flatly untrue. The vote referenced in small print, too small to read on nearly all televisions, refers to a vote years before 9/11. During this vote Kerry proposed cutting the intelligence budget by 3% while the Republicans lead by Dick Cheney were proposing cutting the budget by 5%.

In your opinion, how big a lie is this compared to the many others the GOP is campaigning on?