(CNN) - President Barack Obama pitched his forthcoming budget in his weekly address on Saturday, calling it "a fiscally-responsible blueprint for middle-class jobs and growth."
Republicans have hammered him for being late - his budget is due to Congress by February. But it's hard to believe that would have increased its chances for passage, considering the steep divide between Republicans and Democrats on spending, taxes and deficit reduction.
Obama's plan will include tax increases but also spending on priorities outlined in his State of the Union address, Obama administration officials have told CNN. Details, however, remain unclear because Obama's budget has not yet been published.
"To make America a magnet for good jobs, we'll invest in high-tech manufacturing and homegrown American energy, put people to work building new roads, bridges, and schools, and cut red tape to help businesses grow," he said in his weekly address. "My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families - but through the balanced approach that the American people prefer, and the investments that a growing economy demands."
"But deficit reduction cannot come at the cost of economic growth or middle-class security. And it doesn't have to. My budget will make critical investments to grow the economy, create jobs, and strengthen the middle class," Obama added.
He pointed to changes to Medicare and Social Security entitlements for seniors, saying he supports making "the tough reforms required to strengthen Medicare for the future, without undermining the rock-solid guarantee at its core."
Administration officials have said Obama puts forward a Medicare deal similar to the one he offered to House Speaker John Boehner in December when they haggled over the tax and spending saga known as the fiscal cliff.
Boehner said Friday he rejected Obama's proposal in December "because his offers never lived up to his rhetoric."
Obama aides say his full budget could be released as soon as next week, setting the stage for another fiscal showdown in Washington with House GOP and White House plans on the table.