While the Republican National Convention (RNC) was finally in full swing, U. S. President Barack Obama on Tuesday dismissed it as a "pretty entertaining show" that will not offer "a path forward."

"This week in Tampa, my opponents will offer you their agenda. It should be a pretty entertaining show," Obama said in a campaign speech to students of the Iowa State University.

"And I'm sure they'll have some wonderful things to say about me. But what you won't hear from them is a path forward that meets the challenges of our time," Obama said.

He attacked the economic plan of his Republican rival Mitt Romney, who is expected to be nominated as the Republican presidential nominee by the RNC, saying it will only cut taxes for the richest people.

Obama's campaign appearance in Iowa, one of the crucial states in deciding the November election, was regarded as a counterattack against the criticism of him by Republican delegates at the RNC for the current dismal state of U.S. economy.

Obama tried to woo the young voters by criticizing Romney, former Massachusetts governor, for writing off them as the "lost generation" in an attempt to discourage them from going to the voting booths.

The president also highlighted the risks of Romney's plan to repeal his iconic Health Care reform, dubbed as Obamacare, which will extend health care coverage to many uninsured and enable 7 million young people to stay on their parent's health care plan. "Maybe we should call his plan 'Romney Doesn't Care,' because I do care," Obama said.

"And so, in two months, you get to choose the path that will actually lead to a better future. You have the chance to prove the cynics wrong one more time," Obama added.

More than 40,000 Republican delegates from across the U.S. are attending the RNC held at the Tampa Bay Times Forum arena, amid tight security against possible terror attacks and disruptive protests.

The convention, which will last until Thursday, has been curtailed due to Tropical Storm Issac, though it did not directly hit Tampa area as expected, with the first-day events on Monday being canceled after a 10-minute symbolic opening ceremony.

In addition to officially nominating Romney and his running mate Representative Paul Ryan as the Republican presidential and vice presidential nominees, the RNC will also pass the party platform that will guide the policies of the future Republican government.