For those who are unfamiliar with Mr. Begala, keep in mind that he is a long serving Democratic campaign strategist and adviser.

The article is far from the truth. It makes good partisan rhetoric, but as a factual piece it fails miserably.

Wall street deregulation (which Begala states is the cause of the crisis) started in 1999 when Pres. Clinton signed the financial modernization act, which removed the walls between securities firms, insurers, and banks. Had Pres. Clinton vetoed it, the veto likely would have stood, as Congress was too tightly contested to override a Presidential veto.

Despite the constant cries stating that the tax cuts signed into law by Pres. Bush are the cause of the current fiscal crisis, Federal tax revenue rose steadily from 2002 to 2007. Prior to 2002, the economy was in a state of flux driven by the collapse of the the tech stock bubble with the equally economically disastrous 9/11 attack. In 2008 federal revenue fell as the housing bubble burst.

To pin the current debt crisis on one party is foolish. Both are to blame, and both are to blame equally.