Are Democrats going to create a budget surplus in four years?:

Senate Democrats unveiled a spending blueprint yesterday that envisions a massive expansion of the nation's health-insurance program for children, as well as billions of additional dollars for other domestic priorities such as public education, veterans' health care and local police.

Despite the additional spending, Sen. Kent Conrad (D-N.D.), chairman of the Senate Budget Committee, said the proposal would virtually erase the federal deficit within four years without raising taxes and produce a surplus of $132 billion by 2012.

Under that scenario, Conrad said, Congress could extend President Bush's signature tax cuts past their 2010 expiration date and halt the expansion of the alternative minimum tax, but only if sufficient revenue is raised elsewhere to cover the cost of about $800 billion over five years.

Keeping the "tax cuts for the rich" while increasing spending for welfare and social programs. I'd love to see how the Democrats are going to pull this one off.

[UPDATE] The Club for Growth is slamming the proposed budget:

While the chairman of the Budget Committee, Kent Conrad (D-ND), claims that that the proposal does not increase taxes, the expiration of the Bush tax cuts will effectively raise taxes on all Americans by a whopping $2.1 trillion from 2008 to 2017. At the same time, Senator Conrad is proposing increasing government spending, including $18 billion in new discretionary spending for 2008 alone and $150 billion over the next five years.

The Club claims that if the tax cuts aren't extended it'll be the largest tax increase in American history, surpassing the 1993 tax increase passed by a Democratic Congress under Bill Clinton:

At the time, the Clinton Tax Hike of 1993 was the largest tax increase in American history. It was $241 billion over 5 years.

But that is just a fraction of what Senate Democrats, led by Senate Budget Chairman Kent Conrad, are now proposing. They want to increase taxes by over $900 billion over that same time period.