President Barack Obama on Wednesday took a jab at Republican presidential nominee Mitt Romney, joking that the GOP hopeful must have refused to release details about his policies because they were "too good."

During the first 2012 presidential debate in Colorado, Obama noted that Romney had vowed to repeal health care reform but not given any details about what would take its place.

"But when Gov. Romney says he'll replace it with something, but can't detail how it will be, in fact, replaced — and the reason he set up the system he did in Massachusetts was because there isn't a better way of dealing with the preexisting conditions problem," the president explained. "He says he will close deductions and loopholes for his tax plan — that how it will be paid for, we don't know the details. He says that he's going to replace Dodd-Frank, Wall Street reform, but we don't know exactly which ones, he won't tell us. He now says he'll replace Obamacare — and ensure all the good things in it will be in there — and you don't have to worry."

"And at some point I think the American people have to ask themselves: Is the reason that Gov. Romney is keeping all these plans to replace secret, because they are too good?" Obama asked. "Is it because that somehow middle class families will benefit too much from them?"

"No, the reason is because when we reform Wall Street, when we tackle the problem of preexisting conditions, then, you know, these are tough problems and we have to make choices. And the choices we have made have been ones that are ultimately benefiting middle class families across the country."

Watch this video from CNN, broadcast Oct. 3, 2012.