House GOP Budget Would Cut Deeply, Obama Says

President Barack Obama is criticizing a proposed House Republican budget, saying it would turn Medicare into a voucher-like program, cut deeply into programs such as Medicaid and increase tax payments by the middle class in order to achieve promised lower tax rates.

Asked in an ABC World News interview Tuesday whether he will propose a budget that balances in 10 years, Obama said he would not.

He said his "goal is not to chase a balanced budget just for the sake of balance." He said he wants to improve the economy and put people in jobs. "If we do that we are going to be bringing in more revenue," he said.

He said Republican House Budget Committee Chairman Paul Ryan's budget reprises budgets he has proposed before.

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