The rightwingnutjobs like nothing more than to promote the outlandish myth of conservatives as the guardians of fiscal restraint. That it's an outright lie doesn't trouble them because lies are the only thing that can hold their preposterous narrative together.
The chart above shows, administration by administration, how American presidents have tackled America's debt. Debt is shown as a percentage of GDP represented by the lines - blue for periods of debt reduction, red for periods when debt was allowed to skyrocket.
Suffice to say the red line for George w. Bush will spike sharply upward this year as federal debt (exclusive of enormous unfunded liabilities) begins to approach 80% of GDP. ...And where it stops, Nobody Knows!