This came up because one of my sites that runs AdSense is still seeing a lot of out-dated ads, not only for 4th of July related stuff, but for events, festivals and sales that ended three months ago or earlier! And the dates are actually in the ads, so there's no mistaking it.
It's easy to do, I know - I manage campaigns for a client who offers classes, and I always have time-sensitive text in my ads. There have been times when I forgot and let them run past their due dates, or that I didn't put an expiration date on the campaign.
Dated ads probably aren't effective for advertisers OR publishers on the Content Network. My traffic really likes to click on ads about events and travel, but an ad about a wine tasting event in March of 2007 just takes up space. And if they do click on it, it's just costing someone some money.
Ok, that's all. I just came across three of them in a block of five ads, so I thought I would post this here.