Fiscal Irresponsibility: Just how out of touch is President Obama? In the midst of a faltering economy and rising global threats, he proposes a budget that would sharply cut defense spending and impose $1.8 trillion in tax hikes. Despite its relative insignificance in the grand scheme of things, the annual White House budget proposal does provide a window into the president's thinking on the size and scope of government. The fiscal 2015 budget — released a month late on Tuesday — also manages to showcase Obama's worrisome detachment from reality. The budget rests, for example, on the assumption that real...