First off you are using a disingenuous comparison to make it appear as though Obama is doing the same as GWB. If you really want to compare apples to apples then you should compare GWB's 2001 budget to Obama's today.
Then I would pose a simple question to you. If you were sitting around your kitchen table with the Mrs. and you both saw that your current debt was more than you could handle, and your income was curtailed back by say 20%, would your solution be to go out and spend more on the credit cards that are already maxed out? My guess is like most Americans the answer would be 'ofcourse not!' So then why do you see it as an acceptable solution for Obama?