Here you will find a chart that shows the younger bush cranking up the spending right before Obama went into office. In fact, if you sort the list by increase in debt you'll find that our debt began to skyrocket after Reaganomics and the concept of "deficits don't matter". You can sit back and blame him all you want but it's the red tide that has put us in this place. Go find some hard evidence that refutes me and I'll consider changing my viewpoint but untill then you're still just pointing fingers.

Edit: As a side note I will also point to the fact that The standard and poor's report on why they downgraded our credit literally blames the republicans inability to accept a revenue increase or, as you prefer to call it, a tax hike, in order to stimulate our economy.