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House Republicans Unveil Their Latest Budget Proposal

House proposal repeals Obamacare and restructures Medicare; Senate hopes to cut spending and close tax loopholes.

House Republicans unveiled their latest budget proposal Tuesday, balancing the budget by repealing Obamacare, changing medicare and cutting other domestic programs.   

Already the plan is getting lots of opposition in the Senate.

Democrats are saying this new Republican budget proposal is dead on arrival there.

House Budget Chair Paul Ryan's plan would slash $4.6-trillion in spending over ten years by cutting programs like Medicaid and college grants, without raising taxes.

"This is the alternative to balance," countered White House Press Secretary Jay Carney.  "It results in  unfair tax hikes on middle class and unfair burden to the middle class through cuts it envisioned. 

Democrats will unveil their proposal Wednesday, cutting almost $2-trillion over ten years through spending cuts and tax increases on the wealthy.

Even though that plan isn't public yet the GOP controlled House is already declaring it dead on arrival as well.
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