Obama: Romney claims 'a cowpie of distortions'

Associated Press
FILE - In this April 25, 2012 file photo, President Barack Obama arrives to speak at the University of Iowa in Iowa City, Iowa. The Iowa magic that launched Barack Obama to the presidency four years ago has all but faded. Today, the Democrat who emerged Cinderella-like in Iowa in 2008 is sharply attacking Republican challenger Mitt Romney’s economic credentials and his ability to grasp voters’ everyday concerns.  (AP Photo/Carolyn Kaster, File)

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DES MOINES, Iowa (AP) — President Barack Obama is doubling down on criticism of rival Mitt Romney's background as a venture capitalist. The president says there might be value in such experience "but not in the White House."

It is Obama's toughest attack on his challenger. The president calls Romney's claims that his policies have increased debt, in his words, "a cowpie of distortions."

Obama was speaking to a political rally at the Iowa Fair Grounds, pointedly choosing the same turf where Romney, the presumptive Republican nominee, once declared that corporations are people.

Obama says Romney would roll back regulations and return to policies that he says helped create the recession and would increase government deficits.

The campaign event Thursday evening capped a two-day trip that included fundraising stops in Colorado and California, as well as a commencement address at the Air Force Academy.

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