Obama defends proposal to cut LIHEAP funding

President Obama defended Tuesday his proposal to slash funding for a program to provide assistance to poor Americans who can't pay their heating bills.

Obama said he called for significant increases to the Low Income Home Energy Assistance Program earlier in his presidency when energy prices were spiking. But he said the program can be cut because energy prices have stabilized. LIHEAP is currently funded at $5.1 billion and Obama's fiscal year 2012 budget request calls for cutting the program by $2.5 billlion.

"Energy prices have now gone down but the cost of the program has stayed the same," Obama said during a press conference Tuesday. "Let’s go back to a more sustainable level."

Obama signaled that he would be willing to reconsider the cuts if energy prices spike again. "If it turns out there is another huge energy spike, then we can revisit it," he said.

The president's comments come as lawmakers have slammed the cuts.