President Obama, told of a company moving from Iowa to Wisconsin due to Obamacare regulations, refused to believe his ears, replying that the company "probably wouldn't have been impacted" by his legislation, despite the business owner's explanation to the contrary.

"That'd be kind of hard to explain," an incredulous Obama told KTIV of Sioux City, Iowa. "The only folks that have been impacted in terms of the health care bill are insurance companies who are required to make sure that they're providing preventive care or they're not dropping your insurance coverage when you get sick," he said. "And so, this particular company probably wouldn't have been impacted by that."

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Obama then hinted that either the reporter or the business owner who said Obamacare had forced the company to move out of state were confused about his record. "I know that there's a perception sometimes that there's all kinds of regulations coming out of Washington," Obama said. "The truth is we've seen fewer regulations coming out of my administration than the previous administration."

The president allowed that "it's tough running a small business, no matter what."