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Scaling back government regulations equates to setting the country’s sights lower, President Barack Obama said at a campaign rally in the swing state of Colorado on Thursday.

Speaking at the Colorado State Fairgrounds in Pueblo, Colo. Thursday, the president accused his expected GOP opponent, former Massachusetts Gov. Mitt Romney, of wanting to cut taxes for the wealthy and deregulate business.

“So when you talk to your friends and your neighbors, some of them may think we’ll be better off if we cut taxes for the wealthy and get rid of every regulation, set our sights lower and stop providing the kind of assistance we need to kids to go to college,” Obama said.

“And you’ve got to tell them, look, if you think that’s going to work better — that’s how democracy works — you should vote for those other folks. Feel free to try to send them to Washington. But I believe — and you believe — we’ve come too far to turn back now.”

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