The word "abysmal" means both "deep" and "awful" - What's deeper than the "deep fiscal irresponsibility" of the Bush years? The Mariana Trench of the Obama Administration. But that's different because, um, Slurpees!
Extra - Dana Milbank "Obama's budget games": "The Washington Post’s Lori Montgomery asked why the projected debt had swelled by $1 trillion since September. Zients spoke about “differences in economic assumptions.”" In other words: they made stuff up.
More - Weekly Standard: "The Cost of Obama."