The Economist looks at which party has better balanced our books over the long term:
Since the end of the second world war, Democratic presidents have been considerably more successful than Republican presidents at keeping a tight grip on the nation's finances. Democrats have presided over reductions in the debt burden, on net, while Republicans have led in periods with net increases in borrowing.
Why Obama has his work cut out for him:
Mr Romney's response to the allegation that Republicans are the party of debt may be that no postwar president has presided over as large an increase in the debt-to-GDP ratio as Mr Obama. Mr Obama would respond that much of the debt attributed to him is not his fault. He would have a point. The deep recession he inherited likely added some 10-15 percentage points to the debt-to-GDP ratio, according to the Center on Budget and Policy Priorities. Fair or not, the rise in debt over his term will make it difficult for Mr Obama to claim the mantle of fiscal responsibility he might otherwise enjoy as a Democrat.
The Dish 