You think a few years of Obama sweeps the Bush era collapse under the rug?
Bush lowered tax rates and that equals a decrease in revenue. Don't give me the "revenues increased" because of economic activity meme. Potential revenues disappeared. Deficit reduction was not a priority. Spending was off the hook for a republican president.
We were riding a bubble created by the financial sector and the feds. That was the source of the economic activity.
And all this mess was under Bush's watch. According to what you are saying, we can't blame his predecessors.