"How many years will it be before a President is responsible for their balance?"

As soon as a Republican is elected.

The dude who bought the farm is responsible for buying the farm. Anyone paying off the mortgage is just paying it off. In this case, the guy who declared war is responsible for the cost. The guy who implemented the tax cuts, originally (we know they won't go away), is responsible for their cost. The guy who decided to bail out corporate America is responsible for the cost.

The next guy, Obama or otherwise, didn't walk into the store and buy it, so how are they to blame for it?

When your wife buys a new handbag do you carry it around?

If you buy a house with a lien, and you didn't make sure the lien was removed, you own the house with the lien.