Nixon? Wasn't he switching gears from the LBJ debacle of a Presidency? Not that I'm some huge Nixon fan, but give me a break. Ford was pimple and Carter just about buried us with his "misery index". And just so you know each one of the suckers mentioned here rubbed up against the Saudis even more than GW has been.
Don't take this debt thing too far. In reality the debt hasn't amounted to much of anything that's hurt much of anyone (YET - I might add). Just heard today that the amount we paid on the debt out of our federal budget in the 1960s was 7% of the budget. Today, it's still just 8%. Not much growth there in almost half a century. And this stuff about our children paying for it. How, when, in what way? More doom and gloom crap propogated for an agenda.
But I will give you this, if GW keeps this up we MAY see inflation come back and rates raising, like they both did in the late 70s. I hope my guess is correct that in his second term fiscal discipline will return to the government. Well, IF he's reelected. It sure is close so far, within the margin of error still.