President Obama made it perfectly clear with the budget proposal he submitted Monday that he has no interest in subordinating his agenda to the the country's long-term fiscal health and sustainability. Under the proposal, the federal government will add $26.3 trillion in new debt over the next ten years. Jake Tapper summed it up thusly: "The plan shows that Obama will not take the lead on any aggressive measure to eliminate the nation’s $14 trillion debt."
Head below the break for a list of some of the more disheartening figures from the budget, compliments of NRO's Andrew Stiles.
$3.73 trillion — total spending this year (25 percent of GDP, highest levels since World War Two).
$46 trillion — total spending over the next decade.
$8.7 trillion — total new spending over the same period.
$26.3 trillion — Total new debt, including entitlement obligations, predicted by 2021.
$7.2 trillion — Total deficit predicted by the end of the decade.
$1.1 trillion — How much the White House estimates the proposal will reduce the deficit over the next ten years.
$4 trillion — How much the president’s deficit commission recommended reducing the deficit over the next ten years to avoid financial catastrophe.
$1.6 trillion — The projected annual deficit for 2011 (11 percent of GDP), up from $1.3 trillion in 2010.
Follow the link for more of the numbers.
Any surprise here? How will the media react, do you think?