How did the Reagan administration generate 4.9% GDP growth from 1982 to 1989? Clinton had the .com bubble. He also benefitted greatly from the peace dividend. Clinton raised income taxes to today's level of 39.6% (which he later claimed was too high).
"Second, Messrs. Carville and Greenberg are contradicted by their former boss. Speaking at a fund raiser in 1995, President Clinton
said: "Probably there are people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too."
He signed the GOP welfare reform act putting many more people back to work and paying taxes. He along with the GOP balanced the budget. He lowered capital gains tax rate from 30% to just 21% which greatly improved capital formation. He increased the estate tax exemption. Annual growth in government spending was kept below 3% based on his agreement with Newt. And a strong dollar policy kept inflation at just 2.4%. All stimulative.