What is this Big Scary Graph From Obama's Budget Proposal?

This graph is truly frightening. Here's how the administration explains it in the budget proposal:

Fiscal Irresponsibility

Another manifestation of irresponsibility is the large budget deficits we are inheriting. These deficits, over time, will harm economic growth and impose burdens on our children and grandchildren. For the past eight years, in a time of economic growth, the Government spent recklessly on tax cuts for the few and hand-outs for the well-off and well-connected, mismanaged billions of dollars in taxpayer money, and failed to honor the responsibilities we have to future generations

Massive new programs have routinely been omitted from the Budget to mask their true cost, while a new entitlement program and massive tax cuts were proposed and signed into law without anyattempt to pay for them. Between 2000 and 2008,real Government outlays increased at a 3.6 percent annual average rate, three times the 1.2 percent annual average rate between 1992 and 2000. This has helped turn a surplus of $236 billion at the end of the Clinton Administration, that was projected to grow still larger over time, into a deficit of more than $1 trillion in 2009. (see Figure 12, Surpluses Have Turned to Deficits). Furthermore, the amount of debt held by the public has nearly doubled to $6.4 trillion from 2001 to 2008 We are now living with the fallout of this deep fiscal irresponsibility.

Unfortunately, we are also inheriting the worst economic crisis since the Great Depression -- which will force us to increase deficit spending temporarily as we try to jumpstart economic growth. This is an extraordinary response to an extraordinary crisis, and as we come out of this recession, we must return to the path of fiscal responsibility. It will mean tough choices choices that are tougher because of the legacy of fiscal irresponsibility left to us.