The Obama administration took over in 2009; the debt was already a staggering $10 trillion. Then the financial crisis struck, tax receipts plummeted and the government needed to step in to prevent a depression. Without this spending the whole situation would have been much worse.
The real point of this graph is to point out that a Republican—George Bush, Junior—ran up the bulk of the debt during his presidency, kicking the can down the road, to President Obama. An even bigger question was where were all these 'debt hawks' like Senator McConnell or Congressman Cantor during this great debt increase in the 2000's? Well, they were in congress voting for those massive increases in spending from 2000 to 2008. There you have it: the great lie! All of a sudden these 'debt hawks' want to slash spending, not when the war criminal George Bush, Junior was in office, but now when the Democrat Obama is in office. That says it all and simply exposes the fraud that Republicans represent.
I don't think I could sum it up any better than this blog describing the Republican leadership's (Boehner, Cantor, McConnell and Kyl) recent debt limit votes:
June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”, Kyl votes “nay.”
May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All four approve.
November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All four approve.
March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All four approve.
September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All four approve.
