In the FY 2011 budget, the President proposes reducing the deficit to $1.27 trillion (8.3 percent of GDP) in 2011. In our Analysis of the President's Budget, we applaud the Administration for proposing a specific budgetary goal -- to balance the primary budget in 2015 -- but argue that the President is far off course from reaching this goal and that a more aggressive fiscal goal is needed.

 On The Bottom Line, CRFB has recreated a table showing the costs of continuing "current policy" and the effects it would have on future deficits and debt.

Also be sure to read CRFB's Analysis of CBO's January Baseline, where we discuss current law, current policy, and economic projections.

On Feb. 1 CRFB's Maya MacGuineas wrote in an op-ed for AOL that the President's Budget elevates the issue of fiscal responsibility, but fails to achieve it.

MacGuineas argues that in the weeks leading up to the budget, the Administration should have been preparing the country for the difficult choices ahead.

On Jan. 26, CRFB released its Analysis of CBO's January Baseline, discussing the new budget and economic projections. By 2020, debt under the current law baseline is set to rise to 67 percent of GDP. But if current policies were included, the debt would rise to 100 percent.