When Bubba came to office, the cold war was substantially over, the Berlin Wall came down due to others (RR). There were no wars or major conflicts. Overall there was a huge peace dividend which meant minimal defense spending.
The economy exploded due to the internet and .com stat-ups.
Bubba had nothing to do with this, he just happened to be at the helm.
All this went belly up just after his reign. He was however, responsible for the then coming housing boom, which later had a huge bust..... all of which was blamed on Bush.
-PJ