it is time to get real about the new obama budget blueprint and the failure by either party to make the tough et choices to cut spending. the white house brags that its new 2012 budget would shrink deficits every year over the next ten years reducing them by over $1.4 trillion but under the president's plan the federal government would still spend money dreads of billions of dollars more than it takes in every year over that ten-year period, and the country would sink trillions of dollars deeper into the red, so we keep piling on to the total amount we owe to other countries. that's over $14 trillion on the national debt clock right now. well, here's why the president's plan barely makes a dent in the debt t.only takes a whack at about 16% of the federal budget. it doesn't touch the biggest ticket items. that includes most defense and mandatory spending programs.