• $2.57t budget sent to Congress. Bush: "Our priorities are winning the war on terror, protecting our homeland, growing our economy. It's a budget that focuses on results." Pelosi: "The president's budget is a hoax on the American people." [WP, NYT, WSJ, USAT, WT]
• Budget based on assumptions and omissions, including expectation that non-defense spending will be stable over next five years. [NYT]
• Budget downplays long-term costs, says economist: "There's a lot being swept under the rug from a longer-run standpoint. . . And people really aren't looking at the scary arithmetic in the longer term." [WSJ]
So much, much more follows...
• Budget designed to show conservatives, economists, traders, and world markets that Bush is serious about deficit. Scholar: "I don't think this approach will look very credible. . . The message here is that the underlying trend, contrary to the administration's assertions, is a steady increase in the deficit." [NYT]
• White House looks to skim staff. [NYT]
• Cultural groups and museums spared ax. [WP]
• Budget director Bolten: "I actually enter into this with a happy spirit." [WP]