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I think you are right...The wag the dog concerned primarily Bosnia, though the cruise missle that missed Bin Laden did also occur at this time I believe. The bottom line:
Clinton's perjury and sexual liasons with Monica not only distracted him BUT it effectively ruined his chances for leadership on fighting terrorism..even if that was his intent (which I don't believe it was) He only talked about terrorism when he was in trouble with his exploits.

ALSO...remember that Bill Clinton is most passionate when he is lying (think of "I never had sex with that woman!") He seemed like he was telling the truth then (which he wasn't) and seemed like he was lying when he "admitted" his actions. With that in mind, I believe his passionate attack on Chris Wallace demonstrates that he was lying about his actions!

The Dayton Peace Accords for Bosnia were in the latter part of 1995 (Clinton needed to get that topic out of the news before his re-election campaign)...there hasn't been any major violence in Bosnia since then, nothing to warrant threats of air strikes. The trouble in 1998 had to do with Kosovo...there were threats of air strikes but I don't think any actual air strikes on Kosovo or Serbia proper until 1999.

The "wag the dog" attacks in 1998 were against Iraq or suspected terrorist targets. The terrorist attacks in Kenya and Tanzania occurred on Aug. 7, 1998...ostensibly Clinton's attacks on Aug. 20 were in retaliation for them.