Obama To Propose New Budget on Wednesday; Already Drawing Disapproval from Both Sides

United States President Barack Obama will produce a new proposal for the budget next week that includes changes directed at swaying Republican support, according to Reuters.

The new proposal, that's set to be released Wednesday, will incorporate cuts to Social Security and other benefits programs. The move is supposed to get the attention conservative lawmakers and help the budget-making process to move forward. So far the budget talks have produced little progress. With this new proposal-it might stay that way.

U.S. House of Representatives Speaker John Boehner does not believe the President has made sufficient changes to his budget proposal.

"When the president visited the Capitol last month, House Republicans stated a desire to find common ground and urged him not to make savings we agree upon conditional on another round of tax increases," Boehner said in a statement. "If reports are accurate, the president has not heeded that call."

According to a senior administration official, Obama's proposal to cut funding for programs like Social Security comes with a catch. He will only agree to the cuts if Republican lawmakers allow higher taxes.

It would appear Obama's new proposal might backfire at him from both sides of the aisle. While Republicans might not think it is enough to persuade them, Democrats are upset that Obama is compromising on benefit programs.

Berni Sanders, an independent Vermont Senator who usually votes with the Democrats, said he will not stand for the cuts.

"I am terribly disappointed and will do everything in my power to block President Obama's proposal to cut benefits for Social Security recipients," he said.

According to administration officials the new proposal is expected to cut $1.8 trillion from the deficit over a decade. More importantly for some, it will undo a portion of the effects caused by the $85 billion dollar sequestration cuts.

Republicans say the $1.8 trillion is inaccurate. According to critics, if the new proposal is going to hack into the sequestration cuts the number the Obama administration proposes will be smaller.

However, White House Press Secretary Jay Carney says the $1.8 trillion is just what the doctor ordered. The U.S. has already reached 2.5 trillion in cuts through decreased spending and a rise in taxes. With the added $1.8 trillion, the U.S. will reach the $4.3 trillion that both sides have agreed upon.

With both parties showing ill will to Obama's new proposal-before it has even been released-it looks like everyone will be going back to the drawing board.