President Barack Obama went on the offensive today, saying House Republicans favor the rich with a budget plan that represents a "doubling down" on a failed economic policy.
In a speech before newspaper executives, Obama says a $3.5 trillion budget plan pushed by House Republicans is "so far to the right, it makes the Contract with America look like the New Deal."
The president says the budget includes cuts so deep that it would hurt middle class families and stall the economic recovery. He notes that Republican presidential candidate Mitt Romney, his expected 2012 rival, has supported the plan, calling it "marvelous" (remember Fernando's Hideaway?).
"This congressional Republican budget is something different altogether," he said. "It is a Trojan horse disguised as deficit-reduction plans. It is really an attempt to impose a radical vision on our country. It is thinly veiled social Darwinism."
"This congressional Republican budget ... it's a Trojan horse. Disguised as deficit-reduction plan, it's really an attempt to impose a radical vision on our country," he said. "It is a prescription for decline."
Ryan's plan stands little chance in the Democratic-controlled Senate but has laid out the GOP's fiscal priorities.
Ed will have extended coverage of the president's speech tonight on The Ed Show at 8pET on msnbc. Guests include Maryland Gov. Martin O'Malley and msnbc analysts Eugene Robinson, Steve Schmidt and Richard Wolffe.
Also, msnbc Policy Analyst Ezra Klein will join Ed to point out how the Ryan plan is a reverse Robin Hood deal.
Check out Klein's revealing chart on the Ryan plan. How big would your tax cut be vs. somebody who makes more than a million dollars?