From The Economist:

Barack Obama's budget
The phony war
Feb 13th 2012, 21:31 by G.I. | WASHINGTON
TAKEN at face value, Barack Obama’s latest budget is a bold combination of fiscal rectitude, populist tax increases and industrial policy-lite: tax breaks for manufacturers, more money for community colleges, and a dollop of money for infrastructure. Do not take it at face value. [read more]