Video: Economic Growth Focus of Obama's Weekly Address

(CNN) -- President Barack Obama and a Republican congressional candidate focused on the economy during their Saturday weekly addresses.

Obama spoke about the auto industry, while Oklahoma Republican Markwayne Mullin, who is seeking election to Congress, spoke about the challenges faced by his plumbing business.

"Right now, I spend more than 40 cents of every dollar the company takes in on complying with regulations," Mullin said in his address. "When I first started using that figure, people would say, 'wait, you're talking about taxes too, right'? Nope, that is just what we spend on regulations."

The Oklahoman said Republican presidential candidate Mitt Romney has "made supporting small businesses a key plank of his jobs plan," while Obama and Senate Democrats "support piling on regulations that make it harder to hire, work and do business in the U.S."

In his address, Obama spoke about the auto industry and his effort to save it.

"Just a few years ago, the auto industry wasn't just struggling - it was flatlining," he said, pointing to the condition of General Motors and Chrysler, and the impact on their supply chains and related industries. "More than a million jobs across the country were on the line -- and not just auto jobs, but the jobs of teachers, small business owners, and everyone in communities that depend on this great American industry."

But, Obama said, "we refused to let Detroit go bankrupt," referencing the headline of a 2008 op-ed Romney wrote in support of a managed bankruptcy model to save the struggling automakers.

"Today, auto sales are the highest they've been in more than four years. GM is back. Ford and Chrysler are growing again," he said. "Together, our auto industry has created nearly a quarter of a million new jobs right here in America."

The president also touted increased fuel efficiency standards as "good for your wallet, it's good for our economy, and it's good for the environment."

Obama is off of the campaign trail Saturday, though he travels to Williamsburg, Va., where he will prepare for Tuesday's presidential debate in New York. Romney will campaign in Ohio on Saturday.

And with only 24 days remaining until Election Day, Mullin will likely be on the campaign trail.

"A lot of people call them 'congressmen,' but I don't want to be a man of the Congress," he said in his address. "I'm asking to go to Washington to represent the values and priorities of my neighbors."



 ™ & © 2012 Cable News Network, Inc., a Time Warner Company. All rights reserved.