"I know that there are a few Republicans here in the audience," Obama said Friday at a fundraiser for the Democratic Senatorial Campaign in Palo Alto, Ca. "If you talk to us, it turns out we're pretty common-sense folks.
"We don't think government can do everything," he said. "We don't think that top-down solutions are the right way to go. We believe in the free market. We believe in a light touch when it comes to regulations."
"We don't want to tax all businesses out of business," Obama said. "But we do think that there's a role to play for government."
The president's remarks came at a private residence during a fundraising tour last week for the 2014 midterm elections.
Obama has made similar statements in the past. When speaking about implementing a cap and trade system when running for president in 2008, Obama said he would "bankrupt" coal power plants.
Watch and share. What do you think Obama really believes?