White House Plans To Veto GOP Budget

The White House threatened to veto a Republican spending bill that would cut billions from the current year's budget, putting House GOP lawmakers on a collision course as they moved into a second day of debate on the package Wednesday.

The GOP bill, separate from the 2012 budget President Obama unveiled on Monday, covers spending for the fiscal year that ends Sept. 30. It would cut $61 billion from 2010 levels and about $100 billion from the amount Obama requested, but never received, for this year.

As congressional Democrats slammed the GOP proposal as too drastic, the White House put out an official statement threatening to reject it.

"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 Office of Management and Budget said in a statement.

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