See that link in the sidebar about the National Debt?
“Analysis of President’s Fiscal Year 2008 Budget
February 8, 2007 — While the President has endorsed the goal of balancing the budget, under realistic assumptions his budget remains in deficit every year. The deficit for fiscal 2006 was $248 billion, and deficits will hover in roughly that range over 2007, 2008, and 2009. When the surplus in Social Security is excluded, as it should be, on-budget deficits over those three years will exceed $400 billion.
The President calls for nearly $2 trillion in tax cuts, so in the name of balancing the budget by 2012, he cuts domestic priorities such as health care, education, and the environment.“
My emphasis on that last phrase.