Reagan spent a lot of money in the 1980s to build up the military and push the Soviet Union into oblivion. This raised the deficit. In 1991, victory in the first Gulf War showed the overwhelming superiority of American technology and military might. The Soviet Union collapsed in short order, ending the Cold War and leaving the USA the world’s lone super power, and with a secure source of energy in the ME.
Clinton lucked into this and got to spend the “peace dividend” given to him by Reagan and Bush the Elder.
It ain’t rocket science. Libs like to forget what led up to Clinton’s glory years.