Now it is well recognized that the collapse of the financial system in 2008 had its seeds in the last years of the Clinton administration, when The Glass-Steagall Act regulating the financial industry was repealed, and congress refused to regulate derivatives. Both of these disastrous mistakes were pushed and supported by the Clinton administration.
What else? Well, welfare reform was a center piece of the 'triangulation', but I don't know enough about that to judge. Another very telling thing was the 'National Performance Review', otherwise known as 'Reinventing Government', led by Al Gore. According to this article on the subject, in 1994, I'm assuming after the loss of the House to Republicans, a 'Rego II' was added. According to the report it said "departments and agencies were directed to examine all their various activities and to ascertain which could be privatized, devolved to state and local government, or simply terminated."
Clinton and Gore didn't ask, 'What will make this system work best for the goals we have?' and then 'What resources will that take?' 'And if the resources are too much, is there a second best that is satisfactory?'
In other words, instead of trying to make government work effectively, they started with the premise that they needed to cut, and then imposed on people choosing what would do the least damage. And that seems to me a prescription for damaging government.
Talking to Federal workers at the time and since, they have viewed 'Reinventing' as a disaster that outsourced too much and weakened the effectiveness of government.
In other words, pure Reaganism.