Ann Coulter's Logic

Today I was listening to the Michael Medve Show.  I tend to listen to him on the republican side because I think that he's reasonable and has opinions that, though they may be different than mine, I feel like he respects diverse opinions.  At least that's what I tell myself.  Today he had the really annoying Ann Coulter on.  She loves Mitt Romney and does not like Newt Gingrich.  During an interchange she talked about the shut down of the Government in the mid '90s and how Gingrich lost the argument with the American people because of his incendiary comments.  Clinton is generally acknowledged to have won that battle, so far as the public is concerned.  

Now, that wasn't the part that I'm responding to. What Coulter said was: Clinton and Democrats always crow about how they balanced the budget when "they didn't really balance the budget.  It was Reagan!" (paraphrased) "Don't you people understand that it was the peacetime dividend?! They were able to cut defense spending because Reagan won the cold war!"

Ok, so Clinton didn't really do anything, it was Reagan, and we should give Reagan the credit.  Ok.  So Reagan left power in 1988.  Clinton started to balance the budget in around 1995 or so.  So that's around 8 years.  Keep this number in mind.

Now, republicans have been saying that the present economy's issues are the fault of Obama.  Can't talk about Bush anymore.  He's been out of power for 3 years!  Bush didn't actually cause the recession, and Obama's policy's have made a bad situation worse.  It's all Obama's fault.

Here's my question and my issue:  From what point does the previous president get the credit and/or have to take responsibility for what is going on now?  According to Ann Coulter, at least eight years.  So, according to Ann Coulter, we're still in that pre-president responsibility phase and Obama's off the hook for the current economy.  Thanks Ann, for clearing that up! :)