We elected a spender, so that's what he's doing. He's spending, and spending, and will spend some more. Bush pushed through the first stimulus, so the Democrats are not solely to blame, although now they're the ones at the helm, using their momentum to push through inadequate Republican blockades.
And how are we going to pay for all this? Higher taxes, naturally. Wait for it and see. Maybe the middle class voters who supported Obama will rethink their positions in 2012, when their taxes are up 2 or 3%. Funny how people who don't want to be single-issue voters will vote on one issue when it affects them personally.