There is much they could have done but failed to do to preserve the presence of industry in our country instead of passively allowing it's decline, putting our nation in the situation of importing far more than we import. Pride and ignorance encouraged the required arrogance and absence of constructive reasoning that would have at least attempted solutions to the long apparent worsening problems. No matter how well one thinks their planning is, it must also contain the resources necessary for the plan to achieve it's desired result or a reasonable facsimile.
Thus, it is on those grounds I opine it is blatently obvious that the majority, if not all, the blame is to their account.
Every President has the power to VETO a budget. Congress is required to produce a budget, which goes to the President for acceptance or rejection. Certainly Obama, Bush 2, Clinton, and Bush 1 must accept the final blame ( Less so for Clinton than the others). Now under the current Continuing Resolutions (in lieu of an actual budget) the current President must be MORE to blame.
Since the debt has only been erased once in history, by Andrew Jackson, I suppose today's debt could fall on the shoulders of every administration since. In fact, Jackson only maintained that "debt-free status" for about 18 months. The country then began making more than it could spend. Things went a bit crazy after that and the country fell into a 6-year long depression. So, historically, the nation being "debt-free" isn't utopia.
If you look at the last 13 years, the debt really began to swell after 9/11. During the recession, it exploded. Two wars were a huge factor, but there are other contributors. If we look back 3+ decades ... Reagan raised the debt ceiling 18 times, in 8 years. This is important to note, because the nation's debt was nearly paid off in 1980. So, for practical purposes, it would seem that the bulk of today's debt squarely rests on the shoulders of the last five Presidents.
Some Decisions of the past presidents contributed to that deficit, but blaming them as if they were the only individuals who caused that, is just inconsequential. They do not make decisions alone for the country, other politicians are also part of it. In connection with this, those politicians are likewise to be blamed with the deficit. However, I believe that we should not blame anyone because it's everyone's fault after all.
The President had a hand in the Budget, but a hand doesn't get things passed. The president isn't responsible for the whole of the US Government, not even close. The Senate and House pass budgets and declare the right to war. The military budgets are passed by Congress too.
The only reason he gets all the blame is because he's the first thing you see. Like blaming the CEO when the Board run's the company. He's only blamed because he is the figurehead.
Now I'm against Obama, but not for lies and slander.