Obama reissues veto threat on House spending bill

As the Senate prepares to vote this afternoon on a House-passed 2011 spending bill cutting $57 billion, President Obama on Wednesday reissued his threat to veto the bill.

"The Administration strongly opposes Senate passage of H.R. 1, making appropriations for the Department of Defense and the other departments and agencies of the Government for the fiscal year ending September 30, 2011, and for other purposes," a release states.

It adds that "the unbalanced bill would undermine the Nation’s economic recovery and its ability to succeed in a complex global environment."

"If the President is presented with a bill that undermines critical priorities or national security through funding levels or restrictions, contains earmarks, or curtails the drivers of long-term economic growth and job creation while continuing to burden future generations with deficits, the President will veto the bill," the release states.

As expected, the White House said it strongly supports the Senate Democrat alternative, cutting between $4.7 billion and $6.2 billion depending on whether rescissions of unspent funds are included.

"The amendment is a fair compromise and, unlike H.R. 1, does not undermine the Nation’s economic recovery and long-term growth," it states.

Centrist Democrats have been calling on Obama to step in and take charge of the spending negotiations. On Tuesday, Sen. Joe Manchin (D-W.Va.) accused the president of failing to lead on the issue.

He and other moderates, including Sen. Claire McCaskill (D-Mo.) are expected to vote against the Democrats' bill for failing to cut enough.