WASHINGTON (CNN) - The House Republican leadership upped the ante Thursday in the ongoing debate over the size and scope of the federal budget, unveiling a proposal to cut spending by $375 billion over the next five years.
The bulk of the GOP's proposed savings would come from capping non-defense discretionary spending at the level of inflation.
President Barack Obama "challenged us to come up with budget savings, and today House Republicans encourage him to not only look over our proposed ... common-sense taxpayer savings, but to join our effort," House Minority Whip Eric Cantor, R-Virginia, said in a statement.
"For the sake of our young people and America's long-term fiscal viability, Congress simply cannot keep spending money that the president
himself admits we don't have."
Obama asked congressional Republicans to propose new budget reductions
during an April 24 meeting at the White House.