Obama adjusts his budget projection so that it aligns more closely with reality. He was off by two trillion dollars, now it’s in line with the OMB’s projections (which he criticized at the time). Of course the huge deficits for the next ten years are all Bush’s fault:

“In addition, the failure of past administrations to follow PAYGO rules has had a direct effect on our fiscal situation. If we had abided by this approach during the previous Administration, the projected 10-year deficit would be $5 trillion smaller. In other words, more than half of the projected deficits over the next 10 years are directly attributable to the previous Administration’s failure to follow the pay-as-you-go principle.

I guess the adminstration forgot it was Congress that couldn’t follow PAYGO rules and abandoned them. No to mention that since they’ve taken office they’ve added trillions to that debt and plan to add trillions more with ObamaCare.
Evidently, with the Obama administration the buck stops at the previous administration. At some point he’s going to have to realize that he owns these deficits since his policies have put him here. Spending us out of a recession hasn’t worked (nations that didn’t try and spend their way out of the recession are already out of it) and has only added to our debt. It certainly hasn’t created the jobs necessary to offset the spending (obviously, no jobs, no revenue).
BTW, here’s a blast from the past that you won’t be seeing for awhile. (via)