Bubba's Advice for President Obama: 'Lighten up!'

President Barack Obama has only been in the office for one month so far. But former President Bill Clinton is now grading him on his efforts and offering him advice.

Former President Bill Clinton offered up some unasked for advice to President Barack Obama Friday. He suggested that Obama should "lighten up about the economy." Mr. Clinton, in an interview with ABCs "Good Morning America" program Friday also said the President gets an "A" for his first month in office, but that he needs to put a happy face on his often dire economic warnings if he really wants to get a gold star.

"I like the fact that he didn't come in and give us a bunch of happy talk. I'm glad he shot straight with us."

He was referring to Obama's repeated statements that, "the economy could get worse before it gets better." Mr. Clinton, always charmingly talkative gave ABC a very unusual interview, since most former presidents do not comment at length or even at all on those that follow them in the Oval Office. But he also had unkind words for former President George W. Bush, blaming the Republican for the current economic crisis because he didn't move soon enough to help struggling homeowners avoid foreclosure.

"I personally believe, based on my experience over the years with the economy, that if we moved aggressively on this home problem a year and a half ago, even a year ago, as much as 90 percent of the current crisis could have been avoided."

He urged President Obama to keep the conversation going with Republicans, even if they haven't supported his legislative efforts on the $787 billion stimulus package. Only three Republicans in the Senate and none in the House supported the massive spending package. Clinton said....

"Look, the American people, I think, know the president has tried to reach out to Republicans. And it takes two to tango. I think there are some of them who really believe that just-say-no politics is good politics. I think if he [Obama] just keeps chugging along, just keeps the door open, invite ‘em to every economic conference, invite 'em to every meeting, eventually, he'll start getting some votes" in Congress."

Bubba did manage to come out with one mistake he has realized he made during his presidency. That was a failure to push for more regulation of derivatives, the complex financial tools that some believe planted the seeds of the current economic crisis. He conceded....

"I think I should have done more on that."

But he admitted that he is rather biased when it comes to judging the President, given that Mr. Obama chose Clinton's wife, former First Lady Hillary Clinton, to be his secretary of state. And the 42nd President said that even though he would give President Obama overall, an A for his performance in the big chair so far, on the fact that his wife is now secretary of state he gives Obama an A-plus-plus.