FY 2011 Budget Chart (PDF)
Breakdown of outlays and receipts for Fiscal Year 2011

Social Security and Medicare Chart (PDF)
Annual outlays and payroll taxes in the Social Security and Medicare programs, compared to the annual Federal deficit.

Both Social Security and Medicare now are drawing on their respective trust funds to maintain scheduled outlays. Because the trust funds were borrowed by the Federal government, the government now must borrow elsewhere to repay the trust funds.

Federal Budget Receipts 2009-2020 (PDF)
Estimated changes in Federal receipts over time, compared to the Federal deficits

Social Security and Medicare document (PDF)
Explanation of the Social Security and Medicare programs and trust funds, and the effect of drawing down those trust funds

Social Security and Medicare Components of the Deficit - Chart (PDF)
Illustration of the significance of the deficit due to drawdown of the Social Security and Medicare trust funds, compared to the remaining deficits

See charts of historical data on Federal deficits and the debt.

President Obama has created by Executive Order, in conjunction with the FY 2011 Budget, a "Fiscal Commission," described as follows (emphasis added):

“The Fiscal Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run. Specifically, the Commission is charged with balancing the budget excluding interest payments on the debt by 2015. The result is projected to stabilize the debt-to-GDP ratio at an acceptable level once the economy recovers. The magnitude and timing of the policy measures necessary to achieve this goal are subject to considerable uncertainty and will depend on the evolution of the economy. In addition, the Commission will examine policies to meaningfully improve the long-run fiscal outlook, including changes to address the growth of entitlement spending and the gap between the projected revenues and expenditures of the Federal Government.”