House Republican leaders are giving a big thumbs down to President Obama's new budget plan.
Speaker John Boehner (R-Ohio) said the blueprint would "destroy" jobs rather than create them.
“The president’s budget will destroy jobs by spending too much, taxing too much, and borrowing too much," Boehner said in a statement. "By continuing the spending binge and imposing massive tax hikes on families and small businesses, it will fuel more economic uncertainty and make it harder to create new jobs."
House Majority Leader Eric Cantor (R-Va.) said that while Obama "has used tough rhetoric" on cutting unnecessary federal spending, his proposal today doesn't do it.
"Unfortunately, the president again failed to put action behind his words by neglecting to even acknowledge these tough issues that everyone knows drive up our debt and must be reformed if they are to meet their obligations for younger Americans," Cantor said in a release.
Similarly, Majority Whip Kevin McCarthy (R-Calif.) said the proposal includes an unnecessary large amount of spending and tax increases.
"While American families struggle to live within their means during these challenging times, the president’s proposed budget makes it clear he still doesn’t understand the negative impact government overspending has on the ability to create jobs," McCarthy stated.
"The president and his advisors continue to promote the illusion that government can borrow and spend our way to prosperity – a view putting them at odds not just with the facts, but with the American people," McCarthy added.
Obama's budget request would reduce the deficit by $1.1 trillion over 10 years, which is 25 percent of the spending reductions outlined by Obama's bipartisan debt commission last year.