Nov 1, 2013
Contrary to popular belief Obama is not increasing the deficit and it's actually shrinking. And the reason it increased is because he inherited a broken economy in free fall and had to enact stimulus bills to avert an economic collapse! In 2009, he also took the budget toll of the auto bailout that was passed under Bush but it didn't show up in the budget until the following year under Obama.
due to financial deregulation (glass-steigel ie clinton), derivatives, housing bubble, credit agencies etc