I'm not sure it was entirely Clinton's mess.
One thing a lot of people DON'T say about the tech bubble is how many extra staff were on hand EVERYWHERE to re-write code for potential Y2K disasters, that never happened! After 1/1/2000, and after all that code was cleaned up, all those people could be, and WERE let go!
That and look at the tech cycles (and yeah, I am talkin tech here, but it IS my background).
First generation, 70s computers - were for hobbyists and geeks.
Second generation, late 70s, were for some businesses (think Visicalc), schools, home users and so on.
Third generation, early 80s included the first IBMs. Now ALL the businesses wanted to get on board. A lot of the late 70s companies continued, but started to offer compatibility for CP/M and MS-DOS.
Mid-80s was the fourth generation, the birth of the GUIs. Macintosh. Windows Version 1. Atari's ST. Commodore's Amiga.
A number of people who had the 70s stuff and could afford to, upgraded to the newer machines, because they had graphics capabilities that were totally new to home users.
Around the early 90s Amiga and Atari discontiuned their computers. Microsoft released Windows 3.1/3.11, and Apple was looking at PowerPCs. About the same time, the web got its graphical face, thanks to Mosaic. And once ISPs started offering it, EVERYONE wanted to get on the Internet. That meant more machines, for home and business.
Then late 90s, start adding different recording media (zip, cd-r, cd-rw, dvd-r, etc). And now we're here.
Parts are CHEAP, margins in PC sales are GONE. The only place left to make money is in services, because they're no easier to use now than they were 10-15 years ago (take WHAT arrow and move it where and click with WHAT button?). So no wonder that whole sector is so depressed (probably economically as well as emotionally).
No more quick .com startups, no more Linux bandwagon, no REAL reason to make major upgrades (it's very easy to do in increments - add more RAM, then do the video board another month, etc.) and that means no big transactions.
Yes the consumer does help in little ways with each purchase and upgrade (even in non-tech areas), but it's going to take a lot of mood-lifting to get people to really spend again.

There's my two cents.