Well he did make it massively worse.
How exactly did he do that?
Did he keep interest rates low so people could get into debt they couldn't afford? Nope, that was Alan Greenspan and Ben “Helicopter” Bernanke.
Did he force people to take out ARMs? No, that was the ignorant home buyers.
Did he drive up the cost of labor so corporations built factories overseas? No, that was the unions.
Did he single handed run budget deficits for the last 100 years? No, it took a majority of politicians over all that time to run up the debt.
Did he set in motion the foreign policy that led to 9/11? No, that was the work of previous administrations and other nations as well.
Did he make every American family into oil junkies? No, that was a result of the economic boom that followed WWII.
So exactly what did he do to make it worse?
As has been said before, he reversed Clinton's spending policies. Tell me, where do the hundreds of billions that Bush has spent on this war end up?
Bill Clinton's spending policies were based upon absorbing the Social Security surpluses into the General Fund. Since Bush couldn't do that as the surpluses were already gone how was he supposed to continue those policies? It's like when a family has two incomes and spends in a certain way until one spouse looses a job. Then they by necessity change the spending policy. A source of “income” was lost.
As for the war, a majority of Americans WANTED the war. They were SCREAMING for SOMEONE to PAY!!! A majority of Democrats, including the current presidential front runner, went along with that call for blood. Now that the war is going badly of course the rats are jumping ship and trying to claim they never REALLY meant to support the war.
As for where the billions wind up, it's probably a more effective use of the public funds than welfare. At least the money employs folks who build the weapons. The war also takes unemployed boobs from dead end towns, puts them in pixies and sends them over to get killed thus decreasing the unemployment numbers. Sure the end products are most often blown up but hey, it looks good on TV and an episode of “Watch the Brown Guy Go Boom” probably costs less than an episode of some idiotic twitcom that's in reruns until the writers strike gets straitened out.