I won't take any more of your time as this chart and the accompanying note speaks for them selves. This is from the National Center for Policy Analysis.
White House budget proposal. By law, the President is required to submit a budget proposal to Congress by today, February 4. The President will miss today's deadline (he has only met the deadline once), in part because of the last-minute fiscal cliff deal that didn't pass until January 1, leaving little time for the White House to calculate their 10-year budget proposal. When the President finally submits a budget proposal, all eyes will focus on his plans to control spending and raise taxes. The President is unlikely to propose a balanced budget, just as he hasn't in past years. Anticipating this, the House will consider legislation this week called the Require a PLAN Act. It requires the President to estimate what year, at the earliest, he plans to balance the budget.
This is the season for a little background on the federal budget process: Traditionally, the President lays out his vision and priorities during the State of the Union address. A few days after that, the President submits his budget proposal containing several volumes of detail, resembling a telephone directory. It includes a detailed proposal about how much taxpayer money should be collected and spent. It justifies spending for each federal program and includes tax and spending projections for the next 10 years. Knowing the President's vision, Congress is then required to pass a budget before April 15. The Senate has not passed a budget in almost 4 years, although that may change this year (see below). The Congressional budget, as opposed to the President's proposal, directs Congressional spending decisions. It provides a blueprint for Congressional appropriations bills, which allocate taxpayer money to the various departments and programs of government.
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