This is worth debating! Edited.

OBAMA: Ten years ago we had a budget surplus of more than $200 billion with projected surpluses stretching out toward the horizon. Yet over the course of the past ten years the previous administration and previous Congresses created an expensive new drug program, passed massive tax cuts for the wealthy, and funded two wars without paying for any of it, all of which was compounded by recession and by rising health care costs. As a result, when I first walked through the door the deficit stood at $1.3 trillion with projected deficits of eight trillion over the next decade.
RUSH: That is a lie. By the way, Mike, we're going to go get audio sound bites. That is an out-and-out lie. He said the same thing to Jeb Hensarling (R-TX) and the Republicans on Friday at the retreat in Baltimore, and Hensarling went on MSNBC today to put the lie to what Obama had said. But here once again: "It wasn't my fault. I didn't do anything! When I showed up here, Bush ruined the country. Bush did this, an entitlement program and all the tax cuts that weren't paid for. Bush did it. Bush did it! All those irresponsible things were the previous administration."
He voted for all of it! He voted for every spending bill that came up, from 2005 on. You know, we've got a serious problem: A delusion. We have a serious delusional problem here. And if the Medicare entitlement is so bad, if it's such a strain and drain on us then repeal it. Just offer legislation to get rid of it, it's so bad. Now, here's Jeb Hensarling. You just heard Obama say, "We arrived in office with a $1.3 trillion deficit and projected deficits of $8 trillion over the next decade." Here's the truth: Obama's spending is much higher than Republican spending. Obama is delusional, and being a little bit disingenuous -- and don't forget, nine years ago we were attacked on 9/11.
HENSARLING: Well, either the president misunderstood the point or he just hasn't been well informed. If you look at the 12 years when Republicans controlled the Congress, the average annual deficit was about $104 billion. I'm not proud of that number. That's too high. But in the three years that Democrats have controlled Congress, the average annual deficit is now $1.1 trillion. Do the math. What used to be an annual deficit under Republicans has become a monthly deficit under Democrats. And so when the president says, "I inherited a big deficit," I agree, but he inherited it from a Democratic Congress and only Congress can spend the money. That's the point I was making. Facts are facts, and maybe that's why he wasn't too happy with me.
RUSH: At the retreat Obama actually implied Hensarling was lying in his question about this, but he's right. The Democrats ran Congress starting in 2007, all of 2008 -- and, of course, all of last year. So, "Isn't the economy recovering?" That was the next question that Hensarling got.
HENSARLING: No jobs, no recovery. I'm happy to see the GDP numbers, and I don't understand how you can slosh around so much money -- borrowing it from the future, bringing it into the president and not have an impact on GDP, so I'm glad to see that -- but if it's working, I guess it begs the question: Why does the president want yet another stimulus plan? I lose track, this is either Stimulus 3 or Stimulus 4 when you throw in the whole government omnibus plan.  I personally don't think it's working, and small businesses are wondering: How are we going to pay for this debt?
RUSH: So there is no recovery -- and trust me, there's not. The 5.7% GDP that everybody was going crazy about on Friday, you watch. It's going to be revised downward a couple of times. That won't get much news. CNN today, you will not believe their headline over the Obama budget story: "Obama Maps Route to Lower Deficits." Obama maps route to lower deficits! Folks, let me tell you what this business is all about. All of this he announced today was a prelude to massive tax increases to reduce the deficit that he created.