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Nope, the other way around.
The President submits his budget for the Executive Branch. The Judicial Branch also submits their budget.
Congress is the authority to approve the budget. The President frequently asks for budgets that are disapproved.
Congress has its own budget and guess who is the authority to approve congressional budgets?
Congress - hence the problem
But in no way, would the President be allowed to approve or disapprove of the legislative branch's budget.
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I did say that wrong, but in context, the buck DOES stop at the President.
Congress, on its own, has the ability to create its own budget. However, it does NOT have the ability to authorize any new spending. That is done through the appropriations process, which DOES require the president's approval, and then goes into the budget.
Obama's appropriations by themselves are not necessarily spectacular ... but when combined with the $700 billion bailout, and the nearly $800 billion stimulus package (which contained majority non-specific appropriations) and now a healthcare overhaul, there is no way around it: this president is spending recklessly.