Bill Clinton went full-out Bubba on Wednesday, declaring Donald Trump’s trademark slogan a racist code. But was it an attack — or a confession?

Campaigning in Orlando, Fla., the ex-president had this to say about “Make America Great Again”:

“If you’re a white Southerner, you know exactly what it means, don’t you? It means I’ll give you the economy you had 50 years ago” — back in the days of Jim Crow segregation — “and I’ll move you back up the social totem pole and other people down.”

Of course, Bill Clinton has always been happy to call the other side racist. And Hillary’s camp is plainly nervous about recent reports that young African-Americans in particular still aren’t sold on her candidacy.

Hence, the Donald-Trump-is-really-George-Wallace bit.

But here’s the thing: Bill himself used the same “code words” on Hillary’s behalf back in 2008, when she was fighting Sen. Barack Obama for the Democratic nomination. And he did it in several ads:

“It’s time for another comeback,” he said. “It’s time to” — yes — “make America great again.”

If it’s a coded hate-speech message, it doesn’t matter who says it.

So there you have it: Hillary Clinton is a racist, according to the very best authority — her husband.