like both Bush Tax Cuts, the War, and stacks of other programs too many to list here but available on Liberal web-sites, I'd say he got "religion" much too late, but conveniently timed to leave a legacy of pseudo-budgetary caution.
The largest increases in National Debt occurred under Reagan, Bush Sr. and Bush Junior. According to the CBO, the deficit under Obama will not increase, but may show a slight surplus, which might pay down a little of the Bush Debt.
For those who don't "habla", a deficit is what you have at the end of the year when you total up Incoming versus Outgoing money and you come up short. If it hangs over until next year it becomes a debt which we all carry for as long as it takes. Recently the only Party putting up a surplus at the end of the year to reduce that debt is the Democratic Party, first under Clinton, and now, just possibly under Obama.
The difference between Republicans and Democrats doesn't come on the spending side, although the Republicans sign up for Trillions of dollars of that. The difference is that the Republican's Cut Taxes and Spend regardless of the consequences. The Democrats, constantly saddled with Republican Debt, Cut programs, shift things around, maybe return those taxes to the level where they were cut before and try to concuct themselves in a fiscally responsible manner.
Rhere's no such thing a s tax and spend Democrat. but a Cut-Tax and spend Republican is Standard Operating Procedure.
Rob