One of the ironies of Obama decrying the Boom/Bust economy is the fact that in includes vast swaths of the Clinton Presidency as well. Well before "Housing bubble" entered the vocabulary, Dot-com bubble was a household word.
You'd think the the Republicans would catch on that they can improve the economy AND blame a Democrat while embracing Obama's current efforts!
Another thing worth remebering about Boom/Bust is that the boom half of the cycle is just as unhealthy and crippling as the bust portion. It's the period during which people are extracting wealth from the economy while not putting anything of particular value into it.