Its certainly true that because of a rapidly contracting economy due in large measure to housing policies promoted byand regulatory reforms blocked byDemocrats during the last decade President Obama is facing enormous economic challenges, and a deficit that is much higher than it would otherwise have been. But whereas President Bushs steps were targeted and temporary, Obama has decided to use this crisis to expand, to an unprecedented degree, the size and scope of government.

President Obamas budget calls for adding more to the National Debt in the first 20 months and 11 days of his term$3.2 trillion than was added during the eight years of the Bush presidency ($2.9 trillion. Thats after Mr. Obama attacked Bushs record on the debt, saying "We cannot, and will not, sustain deficits like these without end."

Karl Rove joined Fox News Channel as a political contributor in February 2008. He also currently serves as a columnist for the Wall Street Journal. Mr. Rove helped organize the political-action committee American Crossroads. His latest book is "The Triumph of William McKinley: Why the Election of 1896 Still Matters" (Simon & Schuster, 2015). Follow him on Twitter @KarlRove.