Mr. Obama's schedule included a similar town hall later in the town of Decorah, Iowa.
On Tuesday, he conducts a rural economic forum at Northeast Iowa Community College in Peosta, and has two events on in Illinois.
At his appearances on Monday, President Obama pointed to a commentary published Monday in The New York Times by billionaire Warren Buffett, who he consults on economic issues.
Saying the U.S. Congress should "stop coddling the super rich" Buffett called for raising taxes immediately on Americans earning more than $1 million.
In the difficult compromise with Republicans for a debt and deficit, Mr. Obama called for eliminating tax loopholes for wealthy Americans and has called for Congress to extend tax advantages for the middle class.