Obama is delivering his budget to Congress nearly two months late — it is expected to reach the Capitol Wednesday.
“From what we’ve heard so far, the prospects don’t look great,” McConnell said. “We hear it contains only about $600 billion or less in deficit savings over 10 years … [and] we hear it contains new spending proposals and does little to address the drivers of our debt [entitlements].”
McConnell said that Obama’s budget is similar to the Senate Democrats’ budget, which passed on a 50-49 vote last month, because it wouldn’t balance the budget within 10 years or “ever.”
Democrats have called for a “balanced approach” that has an equal amount of revenue and spending cuts, while Republicans say more tax increases will harm economic growth.