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Obama wants to be pioneer of insourcing

Accusing Republican challenger Mitt Romney of siding with companies which were "pioneers" of outsourcing, US President Barack Obama has said he was in favour of "insourcing" and did not want "jobs taking root in places like China."

Hitting the ground in the key swing State of Colorado for the second consecutive day, Obama on Thursday said he was for insourcing and does not want to be a pioneer in outsourcing.

Obama accused Romney of outsourcing jobs while he was the governor of Massachusetts and was in the private sector.

"Governor Romney brags about his private sector experience, but it was mostly investing in companies, some of which were called 'pioneers' of outsourcing. I don't want to be a pioneer of outsourcing. I want to insource," Obama said in his speech in Pueblo, Colorado.

"I want to stop giving tax breaks to companies that are shipping jobs overseas; let's give those tax breaks to companies that are investing here in the United States of America, making American products with American workers and selling them around the world," he said arguing that this is the reason he is running for a second term.

When the American auto industry was on the brink of collapse and more than one million jobs were at stake, Governor Romney said, "Let's let Detroit go bankrupt", alleged Obama.

"I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM is number one again," he said.

"So now I want to do the same thing with manufacturing jobs not just in the auto industry, but in every industry. I don't want those jobs taking root in places like China," said the US President, adding that he has fulfilled the promises he made in 2008.

"I'm running because in 2008 I promised to end the war in Iraq, and I ended it. I promised to go after al-Qaida and go after bin Laden, and we did it.

"We've set a timeline to end the war in Afghanistan, to make Afghans responsible for their own security. And we could not have done all this if it had not been for our outstanding men and women in uniform," Obama said.

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