Well, if more Americans made higher paychecks, then the government would make more money & the debt will fall. That's basic logic.
However, we are breaking the middle class, so fewer Americans make more money, thus the government makes less off of taxes, thus debt increases. Because they still need to spend money but have none coming in.
Which is the fundamental flaw of the republican fiscal argument.
So when Obama said that, he had a point, there was a time when all of this could have been stopped.
It's also common logic that things change over time. I know Conservatives believe in a stagnate universe, but let's get real.