The debt did not cause the economic collapse.
What did was allowing banks to make loans that were insured by the government, sell those loans (disguised as low risk loans) to other investors, And then betray those investors, as well as the original customer, and The USA by intentionally sabotaging the loans, in hopes of collecting on the federal insurance.
Once this practice became legal, it became popular. Afterall, they get to collect from the investors, who the con into overpaying for the sub-prime loans, and then they get to collect, again, when they force default on those loans, from the federal insurance.
And, because you want to talk about President Obama instead of what actually caused all of this......
Almost every cent of President Obama's debt was used to fill the countless gaps that were left by the prior administration, including the two wars.
The previous administration disguised how much they spent, by simply not paying for their spending.
It is akin to writing checks for everything you could think of, a day before the account is switched to someone else.
Obama came in, and had to act immediately, to fund the bad checks that had been written.
And stimulus?
That is exactly what government does to ease economic hardship in the nation.
And the results?
We did not go over the edge, as you implied. We stopped the downfall.
And, prior to Republicans getting control of The HoR, the economy was deep in the throws of recovery.
And then it all stopped.
If Republicans allowed The USA to recover while Democrats were in power, then there was a strong chance that too many Americans would see who was responsible, and The Republican party could cease to exist in our government.
They have been in state of total desperation, and their only goal has been to stop the US from recovery, so they can muddy the waters, and convince enough people that Democrats did it.
And it works, because not enough people care to look any deeper than the front page, to make their decisions.
They further muddy the waters, by enraging the masses toward others. Illegal immigrants, and they have fanned the flames of religious animosity to keep people interested in those topics, keeping them from digging into the topic of the economy.
It has been pure desperation, and the secret is not even well kept.
Republicans have admitted that they have put getting back into power ahead of the well-being of the economy.
And TEA Party Nation recently sent out an email, asking all members to pledge to not hire in The USA until their demands are met.
It's only a secret from those who choose not to listen. And most people have no interest in knowing much about it.