The Office of Management and Budget unveiled President Obama’s FY 2011 budget request on Monday. Obama has decided to propose a spending freeze for discretionary, non-defense budget items. (See OMB Watch’s statement here.) Because Obama has proposed an overall freeze and not a line-item-by-line-item freeze, spending could be transferred to other areas to reflect administration priorities.

OMB Watch has released its statement on President Obama's FY 2011 budget request.

Read the whole statement here.

As a reminder, tomorrow the Recovery Board will release the next batch of recipient reports on Recovery.gov. The new reports will be released along with a limited overhaul of the site, which will feature a new search option, a "diversity map," and a job search function. We'll be reviewing these new features, and the new reports, on Monday.

In case you missed it, the Congressional Budget Office (CBO) just released its 2010 Budget Outlook, its yearly look at the health of the federal budget. CBO's director, Doug Elmendorf, provides the basics of the report:

CBO projects, that if current laws and policies remained unchanged, the federal budget would show a deficit of $1.35 trillion for fiscal year 2010. At 9.2 percent of gross domestic product (GDP), that deficit would be slightly smaller than the shortfall of 9.9 percent of GDP ($1.4 trillion) posted in 2009.