The Federal debt was about $5.7 trillion when Clinton left office, an increase of only $1.5 billion over Clinton's eight years. When Bush left after eight years, it had ballooned to $10.6 trillion, or about $5 trillion more than when he came in. Today, after only four years of Obama, it's hit about $15 trillion, and trillion-dollar deficits are the norm, not an outlandish number that would have gotten Bush keelhauled. (Source)

The secret to stopping the charging is to cut up the credit cards, not drastically increase the debt limit. Which side of that argument were you on?

Thanks -- your metaphor is even clearer than my "blowing holes in the bottom of a leaking boat" one.

By the way, Greenspan was chairman of the Federal Reserve beginning way back in 1987 and ending in 2006.