Late yesterday afternoon, the White House put out a statement responding to House Budget Committee Chairman Paul Ryan’s Path to Prosperity budget plan, including: “The President believes that dramatically reducing America’s long-term deficit is essential to growing our economy and winning the future. … But while we agree with his ultimate goal, we strongly disagree with his approach. Any plan to reduce our deficit must reflect the American values of fairness and shared sacrifice. Congressman Ryan’s plan fails this test.”

These are strong words considering that under the president’s own budget, by 2014 net interest payments on our debt will surpass the amount spent on education, transportation, energy, and all other discretionary programs outside defense combined. Over the next decade, if we were to follow the only plan the president has had the audacity to put his name on, every citizen would be paying more than $2,500 a year in interest alone. Now that is a plan that fails to meet American values.