WASHINGTON (AP) — The White House is praising the $3.7 trillion budget Democrats squeezed through the Senate early Saturday.
But spokesman Jay Carney isn't raising too much hope for compromise with the GOP-led House, which previously passed a competing budget that makes deep cuts to social programs.
Carney says in a statement issued Saturday morning that the House budget — quote— "refuses to ask for a single dime of deficit reduction from closing tax loopholes for the wealthy and well-connected."
He adds that President Barack Obama will work with both sides to see if there is an opportunity to reach a deal.
Although his major proposals are well-known, Obama has not yet released his budget for the coming year. That's expected in early April.