These problems have been building for decades. Bush and Obama are both at fault as are all their predecessors beginning with Wilson. They have all spent what they didn't have to buy votes or to attempt to avoid/soften normal free market business cycles.
The Chinese have an ancient saying... "May you live in interesting times." We certainly do, if that's any consolation for what's coming. We're currently living through the unwinding of decades of debt and deficit spending. It's been ugly so far and unfortunately it will get much, much more ugly.
To make this a Bush vs Obama debate is frankly an oversimplification of where we are today thanks to things such as the fed, fiat money, abuse of our reserve currency privilege, and government leaders who have bought votes through an incredible level government deficit spending, including entitlement commitments that can never be met.
In the meantime, let's just understand what is occuring - and let's make tons of money in SLW which is benefiting from many things in addition to these issues.