Earlier today, I appeared on CBS Unplugged to discuss the President’s budget proposal. My basic message was to state the obvious: The budget projections presented by President Obama on Monday are not realistic or sustainable.

Even under the White House’s favorable economic projections, the deficit remains huge for the next decade, and debt will quickly grow to be more than 100 percent of GDP — and then grow, and grow, and grow. As I wrote in the Weekly Standard last April:

Economists agree that the nation’s never-ending deficits and mushrooming debt can only be sustained with so much foreign lending. After that, the government will be left with three painful options: dramatic cuts in spending; government-inspired inflation; or higher taxes on the middle class.

You can watch the full CBS interview here: