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Republican House speaker wary of Obama's budget

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner said on Wednesday he was worried that President Barack Obama's 2012 budget proposal will be too fat with spending and taxes.

"I'm concerned that it will have too much spending, too much taxing and too much borrowing," said Boehner, a Republican, as the Democratic president was set to unveil his proposed budget on Monday.

Boehner spoke to reporters ahead of a lunch that Obama was hosting on Wednesday with the three top House Republican leaders.

The meeting is the latest in Obama's courtship of Republicans since they took control of the House in the November elections. Democrats still hold the Senate, though by slimmer margins.

A fight over the budget looms as Obama releases his proposal on February 14. A fresh crop of fiscally-conservative Republicans is preparing plans that will emphasize spending cuts.

House Majority Leader Eric Cantor said Republicans planned to talk with Obama about their desire to cut government spending, create jobs and ease federal regulations.

"Hopefully we can find some common ground so we can see jobs growing in this country again," Cantor said.

The third-ranked in the House Republican leadership, Representative Kevin McCarthy, said he was looking forward to having a "frank discussion" with Obama about spending.

(Reporting by Thomas Ferraro, Kim Dixon and Donna Smith; Editing by Vicki Allen)