If spending is the only issue we're talking about.
There are other problems as well; I only mentioned one. The prescription drug handout was as bad as a significant chunk of Hillary Care(tm). Failure ever to veto anything, including McCain Feingold and some other unconstitutional doozies, is also quite bad. The decision to rebuild NO is a bigger unconstitutional federal project than anything Bill Clinton did. The PATRIOT Act contains more threats to our liberties than anything Clinton signed.
This guy is worse than the alternative, and that's saying a lot. The only area in which he's better than his liberal counterparts is personal integrity.