U.S. President Barack Obama is laying harsh criticism on his Republican rivals for campaigning on an economic platform that he says has nearly “destroyed” the U.S. financial system.

Mr. Obama spoke Tuesday at the annual meeting of The Associated Press in Washington. Appearing in full campaign mode, Mr. Obama said Republicans have “doubled down” on their “trickle down” economic approach.

“So we have tried this theory out and you would think after the results of this experiment in trickle down economics, after the results were made painfully clear that the proponents of this theory might show some humility, might moderate their views a bit.”

Mr. Obama heavily criticized his likely Republican challenger, Mitt Romney, for supporting a House passed $3.5 billion budget proposal. The legislation proposed by Congressman Paul Ryan from Wisconsin aims to cut the federal deficit and reduce the size of government.

The direct criticism of Romney comes as voters in the eastern state of Maryland, the northern state of Wisconsin and the nation's capital head to the polls in the Republican presidential primary. Romney is expected is solidify is lead in the race for the Republican presidential nomination with wins in each primary Tuesday.