Continued from page 1

Mr. Ryan was taken aback by the attack.

“When the president reached out to ask us to attend his speech, we were expecting an olive branch. Instead, his speech was excessively partisan, dramatically inaccurate, and hopelessly inadequate to address our fiscal crisis,” the Wisconsin Republican said. “What we heard today was not fiscal leadership from our commander in chief; we heard a political broadside from our campaigner in chief.”

Mr. Obama made the remarks two months after the president sent a 2012 budget outline to Capitol Hill that was widely panned by both parties for failing to tackle the big deficit-driving programs such as entitlements and for using accounting techniques that the nonpartisan Congressional Budget Office rejected.

The speech also comes several months after a bipartisan panel that Mr. Obama created came up with a deficit-slashing proposal that failed to garner enough votes for congressional consideration. At the time, Mr. Obama kept his distance from that plan, which would have trimmed $4 trillion from the federal tab over the next decade.

The bipartisan co-chairmen of the 18-member panel, former White House chief of staff Erskine Bowles and former Sen. Alan Simpson, later said Mr. Obama’s February budget proposal went “nowhere close” to addressing the nation’s long-term fiscal challenges.

The two men were nevertheless on hand Wednesday for Mr. Obama’s speech.