I think presidents get too much blame (or credit) for how things are going than they actually deserve, especially on taxes/spending/deficits. It's really more congress that sets tax policy and enacts a budget (in theory). Yes, the president has to sign off on it but - in my admittedly limited research - I couldn't find an example of a president vetoing a budget. Perhaps someone can enlighten me.
This isn't exactly the graph I was looking for but it's the only one I could find:
Federal Debt as a Percentage of GDP overlaid on President/Control of House/Control of Senate
I wasn't really looking for it as a Percent of GDP because that adds more variables but it also serves to somewhat inflation-adjust the numbers so maybe it's not so bad. Also it's not a perfect example because decisions made in one year can have long-term effects or may not go into effect for several years but it's an interesting overview.
There are three blocks where Republicans controlled both houses for more than two years (1901-09, 1919-29 & 1995-2005). In all three, the percentage was lower at the end of the block than when it started. It's not as clear-cut on the other side of the coin because Democrats happened to control both houses at the outbreak of both World Wars and the Stock Market crash of 1929 happened during a transition. Democrats held both houses the vast majority of the time from 1933-93 so you don't get nice breaks to compare. However, some of the problems we are having today are due to the long-term effects of social programs that tend to be more Democratically-supported.
Reagan had a Democratic house throughout his presidency so Democrats also had quite a bit of influence on spending policy. Even though GW Bush wasn't great on spending, the percentage was fairly flat until Democrats took control of both houses and the economy went into the crapper (no, I'm not implying a cause-and-effect relationship there).
Many like to point out what happened in such-and-such a president's term but it's way to complicated on many issues to make such a black-and-white generalization.