No one could have known

Gosh, who could have foreseen that massive deregulation, huge tax cuts for the wealthy, and a multi-trillion dollar boondoggle war could possibly have a negative effect on our economy?

Krugman (H/T digby):

I used to think that the major issues facing the next president would be how to get out of Iraq and what to do about health care. At this point, however, I suspect that the biggest problem for the next administration will be figuring out which parts of the financial system to bail out, how to pay the cleanup bills and how to explain what it’s doing to an angry public.

Methinks a levee is about to break....