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.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.