Here’s how the Washington Post summed it up in an editorial today:
The second matter is the Clinton campaign's repeated distortion of Mr. Obama's remarks. In the debate, Ms. Clinton accused Mr. Obama of saying "that he really liked the ideas of the Republicans over the last 10 to 15 years," adding, "Now, I personally think they had ideas, but they were bad ideas. . . . They were ideas like privatizing Social Security, like moving back from a balanced budget and a surplus to deficit and debt." In fact, there is nothing in the record that suggests that Mr. Obama supports any of those positions. As Mr. Obama explained, "What I said had nothing to do with their policies . . . what I did say is that we have to be thinking in the same transformative way about our Democratic agenda."
That didn't stop the Clinton campaign, which went up with a new radio ad yesterday quoting Mr. Obama out of context. "Aren't those the ideas that got us into the economic mess we're in today? Ideas like special tax breaks for Wall Street. Running up a $9 trillion debt. Refusing to raise the minimum wage or deal with the housing crisis. Are those the ideas Barack Obama's talking about?" Ms. Clinton knows they're not. In fact, on policy grounds, the two candidates are extremely close, which makes the nomination fight in part about character and judgment. This episode does not speak well for Ms. Clinton's.
Newsweek’s Jonathan Alter has a more cynical view:
These are completely ordinary comments. In fact, as Obama pointed out in the Myrtle Beach debate, Hillary is considerably more effusive about Reagan in Tom Brokaw's new book, "Boom." Bill has also made many statements over the years
that were much more complimentary toward Reagan. Nobody paying attention thinks either Obama or the Clintons likes Reagan's right-wing politics.
But instead of moving on to another line of attack with more grounding in what Bill Clinton called "indisputable facts," the Clinton campaign decided to bet that this Reagan horse could be flogged for more votes among less educated voters in South Carolina who might be inclined to believe Hillary's preposterous version.
I think it boils down to this. We are in a long and costly war because we had an administration who was willing to lie to the American people to advance their personal agenda. Do we really want to vote for a candidate who is proving she is willing to do the same?