Yes, Clinton's surpluses gave way to Bush deficits (due largely, it's worth noting, to the 2001 recession that was in place when Clinton left office). And yes, the Bush administration (and a complacent GOP Congressional majority) presided over a lamentable and inexcusable bloating of the federal government. But the idea that this was a significant contributing factor to the mortgage/credit crisis strains the limits of creative causality.

Even so, Pelosi's partisan rant - ill-timed, illogical, and irrelevant as it was - doesn't seem like a particularly good reason for intended Yeas to tank the bill.

Update: A full transcript of Pelosi's speech (which was significantly longer than the clip in the video) is available in the extended entry.