Well, sort of. Given that Congress appropriates all money, the debt rose under the Republican controlled Congress from 2001 - 2006 by $5,674 trillion to about $7,933 trillion. In Jan 2007 the Democrats took control of Congress and the public debt rose from $7,933 trillion to $10 trillion by fiscal 2008.
The point is that we been living in a Gov't artificially stimulated economy for the past 8 years which has created excesses and bubbles. On paper, from a GDP and unemployment perspective that looked good, but we lived high on the hog off borrowed money..
We'd have been a hell of a lot better off if the recession of 2001 - which we were slipping into, had been allowed to proceed without Gov't interference.