The House budget sets overall spending limits for broad areas of the government and then appropriations panels will write specific funding bills for each department, agency and program within those limits. But first a budget must be passed.
In his campaign speeches, Obama has been applying the broad spending limits to specific programs of his choosing, estimating huge cuts for job training, poverty programs and student loans when no such cuts have been proposed.
"There is not a single statistic in the president's speech that is accurate," House Budget Committee Chairman Paul Ryan told the Heritage Foundation Wednesday.
"It's hard to compete with somebody who is not anchored in the truth," Ryan said.
Moreover, Obama hasn't had much to say about his widely unpopular health care law, either, even though it's the centerpiece of his domestic agenda.
But there growing evidence that it is forcing employers to jettison their health care plans and has been driving up the cost of existing health care premiums.
Remember when Obama promised that "you will be able to keep your health care plan. Period. No one will take it away. No matter what"?
Well, a McKinsey & Company survey of 1,300 employer plans found that 45 to 50 percent of businesses say they will definitely or probably seek other alternatives to employer sponsored plans once the law takes effect in 2014.
Democratic Sen. James Webb of Virginia was sharply critical of the president's handling of the health care reform law this week, saying it will be his biggest liability in his up hill bid to carry Webb's swing state in November.
"Obama's had a difficult time selling himself as a decisive leader," Webb told Bloomberg News.
So Obama has chosen class warfare, demagoguery and personal attacks on Romney's self-made success as his key campaign strategies.
He's been campaigning for an anti-investment, 30 percent tax surcharge on millionaires and billionaires that he says is all about fairness. The tax failed in the Senate this week, but he intends to continue his crusade against the wealthy, conveniently ignoring the fact that the richest 10 percent of earners pay about 70 percent of all federal income taxes.
"But let's take a step back.Where in this is a plan to accelerate [economic] growth and job creation?" asks Jennifer Rubin, the Washington Post's "Right Turn" blogger. "How does creating a new minimum tax for 4,000 taxpayers assist in the recovery?"
Exactly. It doesn't.
Obama's out there talking about "fairness" when the hard times we're still experiencing under his policies cry out for growth, jobs, business expansion and new start-ups that come from, well, investors with money that he wants spent here on bigger government.
That's what Obama will be attempting to sell in his low road campaign for four more years: a fatter, richer, more costly government to make us even more dependent on its largesse.
And if he is able to divide Americans with this scurrilous class warfare, anti-wealth creation campaign, he will succeed.