The White House, locked in a battle on the 2011 budget, weighed in on the 2012 Republican proposal unveiled on Tuesday, saying it did not do enough to spread the sacrifice needed to reduce the federal budget deficit in the coming years.
Earlier in the day, House Budget Committee Chairman Paul Ryan unveiled a proposal that, if implemented, would reduce the budget deficit by $4.4 trillion over the next ten years. President Barack Obama's proposal in mid-February sought $1.1 trillion in deficit reductions over the same period.
Any plan to reduce our deficit must reflect the American values of fairness and shared sacrifice. Congressman Ryan's plan fails this test, the White House said in a released statement.
Paul's spending plan is 4.6 percent smaller than Obama's and seeks costs savings through reform of the Medicare and Medicaid programs, will enforce spending caps by eliminating some tax loopholes and would broaden the tax base as it lowers the top individual and corporate tax rate to 25 percent.
It cuts taxes for millionaires and special interests while placing a greater burden on seniors who depend on Medicare or live in nursing homes, families struggling with a child who has serious disabilities, workers who have lost their health care coverage, and students and their families who rely on Pell grants, the White House says.
Obama believes there is a more balanced say to America on a path to prosperity, the White House said.