Deficits were not good when they were in the 10 to 20 billion range, the US could eat those for decades before noticing
Deficits were BAD when they hit 300 to 400 billion under GWB (in fact all you liberals where screaming about how irresponsible he was being while ignoring what party controlled Congress)
Obama runs trillion dollar deficits and you say everything is roses... Do you know the meaning of the word hypocrisy?
The deficits allowed by Regan in trade for the (necessary) military expenditures were bothersome. It was rather nice when Clinton was forced (2 government shut downs, remember?) to reduce spending and go into surplus. GWB screwed up by expanding medicare into part-D without a corresponding funding source for it (but at least his method cost about 60% what the Democrats wanted to do, both Bush and Gore were campaigning on promises to expand medicare drug coverage).
You do realize that the US has run up more dept in the first 4 years of Obama, than it did in ALL 8 years of GWB? The stimulus was supposed to be a 1 time expenditure, not a we will spend 700 billion extra a year forever. The money was wasted then, it is being wasted now, and it will continue to be wasted, and it needs to stop. How the hell anyone can support these crony cash pay-backs with taxpayer money is beyond me. Are you so blinded by party loyalty that you just don't give a crap about right and wrong any more?