(CNSNews.com) – 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.”

The Quinnipiac University/CBS News/New York Times poll found that Romney has taken a strong five point lead over Obama in Colorado, leading the president 50-45 in the state. The poll covered July 31-Aug. 6.

A Rasmussen survey of Colorado voters found the two candidates were tied at 47 percent of the vote each.

This was the second day of a two day swing through the state for the president in the hotly contested state where he accepted the Democratic presidential nomination four years earlier.