Obama and Out-of-Control Spending

Everybody knows that Obama is destroying America with his out-of-control spending. It is obvious. Just look at the picture...

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The above is a graph of National Debt versus GDP. Clearly Obama is the tail wagging the dog.

Any fool can see that were it not for the heroic efforts of Reagan and the two Bushes to lift debt to robust levels, the poor American people would be crushed. But along comes Obama, and he has completely undone by turning the manfully correct debt increases of Reagan and the Bushes into a soaring, wildly out of control, rapidly rising wave of debt. Just look at how debt goes up, up, up on the above graph!

Graph taken from a posting by Barry Ritholtz at The Big Picture blog.