He restored some of the governmental functions that Reagan had decimated on ideological grounds. This attracted more capital to where it could be used as wages instead of just used to buy assets from another investor. Gradually, more of the overall wealth found its way into broad circulation. The process was slow to develop, with positive feedback building up in very gradual increments, but each improvement boosted the other. Unproductive speculation is no longer the dominant activity in investing.
Jobs are no longer hard to find, in most areas, for people with any skills.
Despite the continuing influence of Greenspan, wages are finally starting to improve in some areas. The real size of the economy has expanded, shrinking the national debt as a proportion and making its cost more affordable. Other debt has moved back toward normal levels. The result is a boost in prosperity that extends through the full depth of the economy, instead of just across the top. By the time Clinton caved in to the Republican version of welfare reform, conditions were decent enough to minimize its impact.