Link: http://wsws.org/articles/2010/feb2010/budg-f02.shtml

The Obama administration’s budget for the 2011 fiscal year, unveiled Monday, projects massive US government deficits for the next decade, fueled by gargantuan military spending and the impact of the financial and economic crisis of American and world capitalism. The US national debt is projected to more than double over the coming decade, increasing by $8.5 trillion. Administration officials also revealed that for the current fiscal year, which ends September 30, 2010, the federal deficit will approach $1.6 trillion, by far the largest ever, and nearly 11 percent of total US gross domestic product. This is up sharply from the $1.35 trillion estimate last week by the Congressional Budget Office.