Regardless of what he said, it wasn't republicans who did this to our country.
Democrats are notorious for increasing spending on things which increase taxes, keeping a downward spiral going.
Examples are welfare programs which give more money to people when they have more kids, affirmative action which created a job force which refused to work, and was difficult to fire or discipline, and socializing commercial programs causing them to go down in quality and suck more tax dollars at the same time.
In times when republicans helped the economy, democrats got the credit, such as when the republican congress behind Bill Clinton cleaned things up, and he got the credit, even though he did everything in his power to destroy it.
One guy being bullied into saying that republicans destroyed the economy doesn't make it true. Bush screwed it up pretty bad, but Obama tried to deal the death blow recently, and was stopped by congress.
Did you read his plan for the economy that he released about ten days after the inauguration?