Clinton said the Bush administration had decided to invade Iraq "virtually alone and before UN inspections were completed, with no real urgency, no evidence that there were weapons of mass destruction."
"When James Lee Witt ran FEMA, because he had been both a local official and a federal official, he was always there early, and we always thought about that," Clinton said, referring to FEMA's head during his 1993-2001 presidency.
"But both of us came out of environments with a disproportionate number of poor people."
"What Americans need to understand is that ... every single day of the year, our government goes into the market and borrows money from other countries to finance Iraq, Afghanistan, Katrina, and our tax cuts," he said.
"We have never done this before. Never in the history of our republic have we ever financed a conflict, military conflict, by borrowing money from somewhere else.
"We depend on Japan, China, the United Kingdom, Saudi Arabia, and Korea primarily to basically loan us money every day of the year to cover my tax cut and these conflicts and Katrina. I don't think it makes any sense."