I found this on yahoo and thought is would be good for this tread to show the right track:
Ever since his inauguration, obama has said that he "inherited" the federal budget deficit from his predecessor. But immediately upon taking office, obama signed two new bills, the $787B stimulus and the $410B omnibus, that together about equal the $1.2T deficit he "inherited." Now that the fiscal year has ended, we see that the feds ran a $1.58T deficit for FY 2009, the all-time record and the first deficit over a trillion bucks. This deficit is 3.4 times the $459B deficit of 2008, and 10 times the $160B deficit of 2007, which began when Republicans were still in control of Congress. The reason obama is so keen on laying blame for the deficit on Bush is that he's caught in the Democrats' old lie: The president is responsible for the budget. The Democrats are aided and abetted in this lie by the establishment media. It is Congress that is responsible for budgets and budget deficits. Appropriations and budgets are set by the legislature not the president. And Congress has been controlled by Democrats for nearly 4 years now, during which time they've set the two highest deficits in history, this year's record being almost four times the Republican record of 2004. A survey the OMB's Historical Tables (page 21) going back to the inception of the income tax in 1913, shows that no matter how we look at it, a Republican Congress does better at balancing the budget than does a Democrat Congress. Republican Congresses have produced the most recent surpluses, the largest surpluses, the most back-to-back surpluses, the most surpluses under a president of either party, etc. This is why the Democrats and their media lapdogs lay the responsibility for budgets and deficits on the president
According to the OMB's Mid-Session Review (page 26) from August 25, total revenue for FY 2009 was down by $450 billion from FY 2008, yet the deficit was up by more than $1.1 trillion. So the problem is spending, not revenue. And in the middle of this massive shortfall, Congress is trying to saddle America with even more debt, with "initiatives" like healthcare reform, cap-and-trade, and "green" ventures. The latest OMB projections predict huge deficits for the next decade. These projections do not take into account Congress' spending spree in legislation that is still under consideration. Now, one could point out that the economy was doing just fine until Democrats took over Congress. But that would be so simplistic. It's undeniable, however, that barack hussein obama voted for the $700B TARP when he was the junior senator from Illinois in the U.S. Congress. He didn't vote "present;" he took responsibility.
So obama "inherited" the deficit from himself ... and the rest of Congress..