Sounds funny, but I don't even truely believe there was a real recession at the end of the Clinton years to start with. Think about it. you are coming into office after 8 years of continued growth. If you claim that a recession is inevitable, then you can't lose. If the economy stays the same you are great, if it gets better you are a genius, if it gets worse, you couldn't have prevented it.

One reason for the good economy we have had is from the lower interest rate that has been allowing people to borrow more and more money and then spend it on consumer goods while going into deeper debt. With the increase in the interest rate, we finally could see a real slow down of the economy. Who benefits from higher interest rates? Not me. Only those with big cash reserves. Who gets hurt by inflation? Not me? My home goes up and my debt costs me less. Who does get hurt? Banks or others holding debt and people with large cash reserves.

Also, think about it, if you borrow huge amounts of money and then spend it, shouldn't the economy grow as a result. Think of the new deal. The only real problem is that like under Reagan, this president is blowing the money on social programs and the like, rather than infrastucture like FDR.
Rory is right that Clinton was lucky with all the growth during his years, but at least he didn't do anything to stifle it. Do we really want a president that is responsible for everything, or one that allows things to happen as naturally as possible and only steps in when truely needed.
As a true conservative, I can't think of one effect that the Clinton administration had that truely affected my life in a negative way. He was a great politican in that he sounded like he was doing something, and actually doing nothing. Take Gays in the Military, we went from outlawing it outright to saying if we know about it, then we will kick you out. Any difference, I don't see one. He tried to socialize medicine and nothing changed. He did, however, reform welfare.
The republicans will talk about his immorality destroyed America, but fail to explain how drug use, teen sex/pregnancy, abortion and other vices all fell, while college rates went up.
I feel all of these can be tied to the good economy that gave Americans something to look forward to. With gas prices and inflation and war, watch for our young people to start disbelieving in the American dream again and for gang violence and all the gains to start slipping away.
Always look to the reality, rather than the perceptions. Thats my 2cents.