White House backs Senate Democrats' budget

The White House said Wednesday evening that it is supporting a fiscal 2014 budget plan proposed by Senate Democrats. 

"The Senate Democratic budget is a concrete plan that will grow our economy and shrink our deficits in a balanced way, consistent with the president’s belief that our economy grows best from the middle-out, not the top-down, while reducing the debt as a share of the economy," according to a statement from the press secretary.

"It’s a plan that doesn’t dwell on ongoing debates, but rather moves our country forward by making investments critical to our middle-class security — like education, manufacturing and rebuilding our crumbling roads and bridges, while looking for waste, fraud, and savings throughout government."

The Senate Budget Committee will mark up the measure on Thursday as the House Budget panel completes its own amending process this week. 

Both budget blueprints are expected on their respective floors next week for amendments and votes. 

President Obama is set to release his budget sometime during the week of April 8, more than two months behind schedule. 

"This budget makes tough spending cuts and leaves no sacred cows, but it also makes sure that seniors and the middle class aren’t forced to bear the full burden of deficit reduction by eliminating wasteful loopholes through tax reform,  so that the wealthiest Americans pay their fair share," the White House statement said. 

"Republicans and Democrats have now put their plans on the table. And while there are differences, both sides share some common goals," the statement said. 

"The president looks forward to seeking compromise and common ground with Congress so we can grow the economy, create jobs and cut the deficit in a balanced way."

Obama is spending three days this week on Capitol Hill to meet with Democrats and Republicans on both sides of the Capitol to discuss a broad range of issues, including budget matters.