Friends at the National Priorities Project have a quick assessment on President Obama’s budget. Here’s their take on the defense and security budget:

Defense spending, which accounts for roughly 58 percent of discretionary spending and 20 percent of total federal spending (both based on FY 2011 estimates), will continue to grow, albeit at a slower pace than in recent years.

The $553 billion base-line Department of Defense request is approximately 3% higher than current funding levels. This figure does not include funding for nuclear weapons or $117.6 billion for the U.S. wars in Iraq and Afghanistan.

…The chart below shows defense spending as 58% of all requested FY2011 discretionary spending (left bar) and security spending as 66% of the total (right bar).

This means that the projected freeze and subsequent savings on non-security discretionary spending in FY2012 will have to be absorbed by an even smaller percentage of the overall discretionary budget.