Obama's budget

According to ftalphaville, the key parameters of Obama's budgetary plans are:

For next year...

FY 2011 projected revenue: $2.174 Trillion
FY 2011 projected spending: $3.819 Trillion
FY 2011 projected deficit: $1.645 Trillion
Spending as a % of GDP: 25.3%
Deficit as a % of GDP: 10.9%

...and by 2015....

FY 2015 projected revenue: $3.583 Trillion
FY 2015 projected spending: $4.190 Trillion
FY 2015 projected deficit: $607 Billion
Spending as a % of GDP: 22.3%
Deficit as a % of GDP: 3.2%

Here is a round-up of what others said about the administration's budget plans:

New York Times - Obama’s Budget Proposes a Significant Increase for Schools

National Review - He is still spending and First thoughts on the budget
Obama’s Budget: $1.65 Trillion Deficit

Bush Deficit vs. Obama Deficit in Pictures

The Hill: Obama budget draws on GOP ideas

Washington Post: Obama budget plan reveals vastly diminished ambitions