White House praises Senate-passed budget

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The White House is praising the $3.7 trillion budget Democrats squeezed through the Senate early Saturday. 

But spokesman Jay Carney isn't raising too much hope for compromise with the GOP-led House, which previously passed a competing budget that makes deep cuts to social programs. 

Carney says in a statement issued Saturday morning that the House budget - quote- "refuses to ask for a single dime of deficit reduction from closing tax loopholes for the wealthy and well-connected." 

He adds that President Barack Obama will work with both sides to see if there is an opportunity to reach a deal. 

Although his major proposals are well-known, Obama has not yet released his budget for the coming year. That's expected in early April.

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