In the party's weekly radio and Internet address, Portman denounced President Barack Obama's 2011 proposed budget as a failure.
"Instead of making the tough choices all Americans know are necessary to get our fiscal house in order and strengthen our economy, the president's budget locks in the higher levels of spending over the past two years and doubles the national debt," Portman said.
In his weekly address, Obama said his economic stimulus plan would bring the deficit as a percentage of the total economy to "lower than it was under the past three administrations, and lower than it was under Ronald Reagan."
However, Portman said Republicans remained opposed to spending as a means to bolster the economy.
"The stimulus plan ended up costing over a trillion dollars when you include the interest on the money that had to be borrowed to pay for it," Portman said. "It was a grand experiment that failed."
Congress never approved Obama's 2010 budget and the government has been operating under a continuing budget resolution since last year. The deadline for a new budget is Friday.