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Obama: Buying A "Thingamajig" Is Good For Business, The Economy

"There are some folks here who could use $3,000 a year," President Obama said at a campaign event in Golden Valley, Minnesota while touting his "to-do list" for Congress. "Let's get that done right now. That means that -- if you have $3,000 a year extra, that helps you pay down your credit cards, that helps you go out and buy somethings that your family needs which is good for business."

"Maybe somebody will be replacing a -- some thingamajig for their furnace. They've been putting that off, but if they got that extra money they might just go out there and buy that thing. Right?" Obama said to laughter.

Obama made his remarks after touring a Honeywell plant.

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