Today at the White House Press Briefing, Jay Carney admitted that the President’s budget will not achieve balance. 

JONATHAN KARL: When we say balanced, you don’t mean balanced –

JAY CARNEY: I mean a balanced approach to deficit reduction that includes asking everyone to pay their share.

KARL: But it will not be a balanced budget –

CARNEY: No, what the president’s budget proposal will do, as his previous proposals have done, is achieve the economically important goal of bringing our debt-to-GDP down below 3 percent.