Check the numbers.
The "stimulus" package, just one of the recent Democratic legislative budget busters, exceeds the entire cost of the Iraq War to date.
Go to the CBO site, and you'll see this graph. You can do your damnedest to blame the next five years on Bush, and no doubt liberals will, but who are you going to blame for the ever-increasing deficits beyond that? For perspective, keep in mind that the Democrats have held the purse strings since January of 2007.