At this point money has lots it value and the government has continually spent money that they don't have. Our nation is in debt up tour eyeballs. He probably could have been smarter about what he has done with the money he has wasted on foolishness. If money was spent the proper way we wouldn't be in so much debt and needing to borrow money.
Yes, President Obama gave too much away in his budget, because there is a huge budget deficit. There are way too many pork projects in the current budget. The United States cannot continue to spend more money than it makes. This will cause large inflation and will pull the country apart.
President Obama needs to compromise with his budget to get anything done in Washington. The massive debt incurred by the U.S. government must be balanced, either with more tax revenue or fewer services. Privatizing Medicare, Medicaid and Social Security are some options. Raising the retirement age is another way to try to save taxpayer money.