I think the bail-outs (which began under Bush, you know) were the lesser of two evils. Yes, it increased the debt- but I think for a time there was a real danger of a total 1929-style banking collapse as these banks realized there was no money in the vault. Same with GM and Chrysler- if they went under they would have taken many others all across our whole economy as every business is inter-dependent on other businesses either for customers or supplies. So I think to sit back and do nothing could have easily degenerated into a 1930s depression again- it took a world war to get us out of that! I don't think we can afford that cure again!
I think the big mistake was not having more strings attached- for example allowing those bankers and brokers who loss all this money through greed and mismanagement to take home huge bonuses was unconscionable! They should have been fired- not rewarded!