Power Line says it more eloquently than I.
Obama said, in his introductory statement:
At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led us to a narrow prosperity and massive debt. It's with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.
This is entirely disingenuous. Obama's budget plan multiplies the federal deficit far beyond what it has ever been, in any prior administration. So how is he "moving from an era of borrow and spend"? It's a lie, pure and simple, as this chart shows (note that it begins before the Bush administration and reflects Obama's budget projections that go beyond his maximum possible term):
When a politician is capable of this sort of bald-faced lie, an alarm bell has to go off every time he opens his mouth.