President Obama subtly attacked Mitt Romney for being wealthy, suggesting that he hasn't "spent time in the real world" and so has not received the necessary preparation to occupy the White House.

"Those of us who have spent time in the real world understand that the problem is not that the American people aren't productive enough," Obama said during a fundraiser today, after saying that Romney believes that America "automatically" prospers when the wealthy profit. "[Romney says] his 25 years in the private sector gives him a special understanding of how the economy works, [so] my question is why are you running with the same bad ideas that brought our economy to the brink of disaster?"

Obama was referring to Romney's call to extend the Bush tax rates, which the president would like to raise.

The president also said that Republicans, not Democrats, caused the current budget crisis. "I love listening to these guys give us lectures about debt and deficits. I inherited a trillion dollar deficit!" he said. Obama compared Republicans to a person who orders a steak dinner and martini and then, "just as you're sitting down, they leave, and accuse you of running up the tab."

The Government Accountability Office reported last fall that federal debt had increased from $8.9 trillion to $14.7 trillion between 2007 and 2011. It increase $3 trillion over the first three years of Obama's presidency.

Obama warned that he would "have to contend with more cynicism, more foolishness, than we saw in the last campaign."