WASHINGTON (Reuters) - President Barack Obama made a sales pitch on Saturday for his forthcoming fiscal year 2012 budget, pledging that it would help the United States "live within our means while investing in our future." The budget, due to be unveiled on Monday, contains a mix of cost cuts and targeted spending to achieve Obama's twin goals of reducing the deficit and boosting US competitiveness. But Republicans, who control the House of Representatives, have balked at any spending increases and accused the Democratic president of not being serious about reining in the deficit, which is forecast to reach $1.48 trillion this fiscal year. The 2012 fiscal year begins on October 1. In his weekly radio and Internet address, Obama highlighted his plan to freeze non-security discretionary spending for five years, which the White House says will reduce the deficit by $400 billion over the next 10 years. "We've stripped down the budget by getting rid of waste," he said in the address, adding that the government would get rid of thousands of empty buildings and freeze salaries on "hard-working government employees" as part of the push. Obama said the budget proposes to invest in roads, high-speed trains, broadband Internet, clean energy and education. After a decade of rising deficits, Obama said, "I'm proposing a new budget that will help us live within our means while investing in our future," he said. Republicans, who have a sales pitch of their own to make, said Obama's budget was not taking the deficit problem seriously enough. "The president's proposal for a freeze in government spending might give the White House a nice talking point. But it is a totally inadequate solution to our nation's spending problems," Senator Orrin Hatch, the top Republican on the Senate Finance Committee, said in his party's weekly address. "If the president's new budget simply freezes his last budget, he'll stifle job growth by continuing to spend too much, tax too much, and borrow too much." Meanwhile, President Barack Obama's proposed budget for fiscal 2012 includes $308 million for the Commodity Futures Trading Commission, up 82 percent from the regulator's current spending level, two sources with direct knowledge of the number said on Friday. But House Republicans looking to slash government spending want steep cuts at the CFTC, in a bid to starve it because of its lead role in implementing Dodd-Frank financial reforms. The CFTC is one of the focal points of anticipated bitter partisan fights over funding. Late on Friday, House appropropriators said they wanted to slash $56.8 million or 34 percent from the CFTC's current funding of $168.8 million for 2011, which would mean drastic cuts for the rest of the fiscal year. Congress has to agree by March 4 on continuing funding for the government for fiscal 2011, which ends September 30. Obama and the Democrats who control the Senate are certain to oppose the House plan. The chronically underfunded CFTC will begin policing the massive over-the-counter derivatives market later this year, worth about $600 trillion globally. Under new regulations, banks and other large traders will have to clear their swaps -- bilateral deals blamed for accelerating the recent financial crisis -- and trade them in more transparent platforms. The CFTC has said it needs to hire more people and modernize its technology to watch over the massive market. But it is struggling under current funding restraints. It had sought a 50 percent hike for 2011, and the Obama budget -- to be released on Monday -- seeks an even bigger increase. Michael Dunn, a Democratic commissioner, said last month the CFTC is facing a "budget crisis. "In essence, we face an unfunded mandate -- a situation where the CFTC has been given enormous responsibilities, without the corresponding increase in resources necessary to fulfill them," Dunn said at a hearing. But Republicans in Congress have questioned the need for regulatory funding hikes, and have questioned whether the CFTC is overreaching through some of its proposals. House Capital Markets Subcommittee Chairman Scott Garrett told Reuters in January that budget restraint is just one way Republicans are trying to "throttle" parts of Dodd-Frank.