Intelligent Person: But the price of houses has dropped so low that now is the perfect time to buy if you have good credit and some savings.
Idiot: Well, it's Bushonomics that my credit's all jacked up. It's all the Republicans' fault.
2/ Pernicious economics practiced by President George Herbert Walker Bush and continued by President George W. Bush.
3/ Spending more than you have
(Attributed to Al Martin of AlMartinRaw.com)