Dressed conservatively (though this isn't a political reference) in a dark grey single-breasted suit relieved by a scarlet tie laced through with white dots, White House  Office of Management and Budget Director, Jack Lew, introduced an explanatory preview of the 2012 Administration Budget. Referring to the White Board illustration of the budget's deficit downward trajectory, Mr. Lew made note of the fact that when he left office in 2001 in his previous stint as OMB director, as a government, "we were running a surplus of $5.6 trillion over the next ten years. Since then we've taken a dramatic turn. " ... we're running very deep deficits, as you can see."

"The challenge that we face as a country is that we need to get from a place which is just unstainable to a place where we can actually pay our bills and have a stable, secure future."

"I'd like to show you what the President's budget can do:"

"There's no one side that has all the answers. We know that you have to stabilize where we're going, before you can move on, and solve the rest of the problem.This budget does that. It does it in a way that we look forward to working, on a bipartisan basis, to make policy for our country."

The White House's White Board page advises "Look for much more detail here at WhiteHouse.gov Monday afternoon."

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