Aww, c'mon GC... you can't attribute the deficit, or the present economic circumstances singularly to Bush, nor more than you can credit him with dorpping oil down under $35 a barrell.
Sure, Bush signs a budget, that congress pretty much owns. So the deficit issue really originates in congress - if anything, from a conservative position, Bush didn't do a president's job by vetoing it and screaming it was a bad deal. Instead, he compromised - pretty much like every president before him. And 'Bama will be no different.
Present financial failures fall squarely on all the western governments, following US principles, in managing debt and taxation. The same companies that failed so badly and are receiving bailouts were the best contributors to the guys that passed and enforced laws that used to limit the abuses of debt management and lending that triggered the most recent panic. It's been happening since at least the 1960's - and it ain't a badge only a republican or democrat, or any singular president, can wear alone.
As far as Obama 'spending' less, or creating less debt per year - how can you calculate? I bet Obama will spend as much - and probably more - since he's going to have to not only maintain all these failed government (not singularly Bush) spending committments, but he's going to create his own. If the cost of the inaugeration is any indicator of O's fiscal responsibility, we're gonna be in for it.
Funny. The liberals *****ed and moaned and belittle Bush for his innaugeration costs, but cant muster up enough indignation about O's, which will be about 40% more. Hypocritical, wouldn't you say? And don't even start on the carbon footprint for the 'Greenest' president in history. And, boy... love that treasury pick... can't manage his own tax requirements, but he's gonna manage mine.
At least the big O will be saving money on Iraq - since it never fell into chaos, civil war, and the abyss... so less money will be spent on a nation that - dare you disagree? - is awfully successfull compared to all the claims of the 'experts'.
If you're gonna make an issue on debt, know that percentage of GDP is a better indicator than measuring dollars - since a dollars value seems to be always depreciating. Eleven trillion in 2009 would be 5.5 trillion on 1997 which would be 2.25 trillion in 1987 and equal to 1.1 trillion in 1977... so, in one sense, the debt has not climbed significantly in dollars. Deduct the cost of the bailout, and the costs of the conflicts and war related humanitarian aid, and it hasn't climbed at all relating to dollars.
Public debt, though, has doubled in 30 years'ish - that's the big deal. Spending out the ass, and selling bonds, securities, T-Bills and the like. That's the problem - spending beyond tax collections and compensating by selling unprotected financial paper. But Obama's not gonna end that policy. It's what's keeping this liberalized government liquid.
So, GC - don't be talking silly. Even if you believe Bush is a lying, water-boarding, unedjumakated, teetotaling Bastard - the things you claim are nowhere near all his fault. maw