Matalin: It's 'Nutty' to Blame Wall Street for Greece's Problems -- and the Clinton Economy Was Result of Reaganomics.

On what planet does this woman live?

BEGALA: I know right here in America, Mary's right, the president who I worked for, Bill Clinton, handed off to the president that Mary worked for, a surplus, and a pathway to zero national debt by this year, we should have zero national debt but for Republican economic policies. I know what caused it here. It was cutting taxes for the rich. Deregulating Wall Street. The Russian roulette with the American people's money that the Wall Street guys were playing and that's what caused this crash in America. I suspect that's probably what's behind the thing overseas, but I don't know.

BLITZER: Mary, I'll give you the final word.

MATALIN: That economy that President Clinton enjoyed was the result of Reaganomics and when we get back to Reaganomics, we will get out of the recession that we're in, and when we got -- when we picked up from the Clinton administration we had a recession, so we can keep going back all the way to the beginning of time, but every president has to deal with what he gets and President Clinton was very lucky to have followed Reaganomics.

The current economic problems weren't caused by the sub-prime mortgage market collapse and the Reagan policy of continuously deregulating the markets, but are actually the fault of Greece being a "welfare state"?

I know Conservatives have their talking points, but is reality ever allowed to intervene?

UPDATE:



Fox News, unsurprisingly, picks up the theme that what's happening in Greece is due to their social programmes and warns that Obama's America is heading in the same direction.

Tags: Mary Matalin, Reagan, Greece, economic meltdown