President Obama FY2011 budget was released today. To kick off this week’s punditry, it’s worth shining a spotlight on some of the highlights (lowlights?) of this year’s spend-a-palooza. For a look at the full proposed budget, click here. It packs a lot of punch into a relatively small package, spending $3.8 trillion in a mere 192 pages – which breaks down to approximately $19,791,666,667 per page. (It’s pretty sad that Washington now considers a 200-page budget document “short” now.)

Ugh, the one time the government is efficient, this is what we get?!?

The House Republicans have a good 2-page summary that shares some discouraging tidbits. The 2011 budget:

  • Boosts the deficit to a record $1.6 trillion in FY 2010, which is 10.6 percent of GDP;
  • Pushes the debt to $9.3 trillion this year, which is 63.6 percent of GDP (the largest in history), doubling the debt in 5 years and tripling it by FY 2019 from FY 2008 levels; and
  • Raises taxes by over $2 trillion through 2020.

Some things included in that $3.8 trillion include $237 million for Thomson Correctional Center – site of the future U.S. based Guantanamo Bay, to be located in Illinois; a $100 billion jobs plan, which includes “investments in small-business tax cuts, infrastructure and clean energy,” according to the Chicago Tribune; and total net interest payments of $250 billion.

And if you’re looking for some other (depressing) fun facts, Mark Knoller at CBS News shares the following gems via twitter:

  • Total spending for FY’11 of over $3.8-trillion would amount to 25.1% of total US economy – slightly less that 25.4% this year
  • Despite his proposed freeze in non-security discretionary spending, Obama calling for $3billion (12%) increase in funding for education
  • Obama budget projects National Debt will soar to record high of $15.1-trillion by end of FY’11
  • At $15.1-trillion, Debt will have increased $4.5-trillion in 2 yrs 8 mnths on Obama’s watch, It rose $4.9-trillion during 8 yrs of Bush/43.
  • Further, National Debt of $15.1-trillion at the end of FY’11 will nearly equal the total economy. GDP to hit $15.3-trillion in FY’11
  • WH budget projects National Debt will exceed GDP in FY2012 when Debt tops $16.3-trillion

Bear in mind this binge spending is taking place despite the much-ballyhooed “freeze” announced in last week’s State of the Union – you know, that one that only addresses discretionary spending. Unfortunately, since non-defense discretionary spending increased 19.5 percent in FY2010, that’s sort of like going to Alcoholics Anonymous after a weekend bender in Vegas.

Well, look at the good side… oh, who am I kidding. There is no good side to this budget.