I think he meant that Obama isn't done running up the debt yet. He has almost 3 more years to pass 22 trillion in national debt.
But let us not forget that the President only sets the tone for national spending, that CONGRESS spends the money. And that typically our country usually gives the presidency to one party and congress to the other (or splits congress between the two parties).
GW Bush mostly had a dem congress (that and 9/11 is reason for spending too much).
And Clinton mostly had a Republican Congress, which is why spending went way down. (especially for welfare.)