Out of interest is anyone, other than you, propagating this myth? It just I've not heard it anywhere else.
As has already been said on here, before the crisis, the Tories were proposing to match Labour's spending. Cameron was saying that whilst the economy may be ok, "society was broken." Gus O'Donnell the head of the civil service under Major, Blair and Brown has said that the civil service didn't see the crisis coming.
I think some blame can be attached to a Labour government not regulating the banks, but the zeigeist was "the market is always right" As with many of this country's ills, the banking crisis can be traced back to Thatcher.
The British economy shrank 7% in 2008/9, the deficit was a product of that reduction. TBH I reckon Darling did well to pull the economy through that and nurture some growth. Osbourne killed that growth stone dead. He and Dave the Kipper should pay the price at the next election. I sincerely hope they do.
As an added vindictive bonus I'd like to see Clegg kicked out of Sheffield too. That'd larn 'im!