President Barack Obama on Thursday blasted GOP hopeful Mitt Romney for offering a "cowpie of distortion" with his claim that a "prairie fire of debt" was consuming the nation.

"You know, he left out some facts," Obama told a crowd of about 2,000 supporters in Iowa. "His speech was more like a cowpie of distortion."

"I don't know whose record he twisted the most," the president added. "Mine or his."

Speaking in Iowa a week earlier, Romney used a brush fire metaphor to warn of a looming financial crisis.

"We can’t spend another four years talking about solving a problem that we only make worse every day," Romney said. "A prairie fire of debt is sweeping across Iowa and our nation, and every day we fail to act we feed that fire with our own lack of resolve. This is not a Democratic or Republican problem. That fire could care less if you have a donkey or an elephant in your front lawn, it’s still coming for your house."

An analysis by the Center for American Progress Action Fund determined that Romney's economic plan would actually make the debt worse by delivering "a massive $6.6 trillion tax cut that would primarily benefit the very wealthy and corporations."

"Five trillion in new tax cuts? That is like trying to put out a prairie fire with some gasoline," Obama noted on Thursday.

Watch this video, uploaded to YouTube May 25, 2012.

Watch the full video of Obama's speech, recorded May 25, 2012.