They didn't squander shit, they were smart.
They refused to pass any Budget so they could borrow and spend as much as they could get away with before the next election.
They took full advantage of being in control and they went nuts and tried to get as much of their shit passed as possible before the people toss them out. Bailouts, bank/fed corruption, a 3rd war, obamacare, 6 trillion debt in just 3 years, economy almost tanked, more control over internet and the media than ever before and now we get yet another crisis that they've purposely pushed to the very last minute to create a "national emergency" that gives them more power to do even more drastic shit to "save the world" as Pelosi put it.