Yes, the Internet Boom would have made anyone look good, just as right now, no matter who is president, he or she would look bad. I discussed with friends that if John McCain really wanted to be President, he needed Al Gore to be elected in 2000 or George Bush to have lost in 2004. Gore would have been a one termer after 9/11 attacks, and McCain wins in 2004. Bush loses in 2004 and Kerry wins. 2008, Kerry gets blamed for the bad economy and McCain wins. Politics is just as much about ideas as timing. No Republician was going to win the Presidency in 2008, no matter what. And I'm sure Hillary Clinton knew this, which is why she stayed as long as she did - if she won the Democratic nomination, she probably would have been elected.
Whoever was elected, he or she would probably be doing some kind of package like what is be prepared now. If it was a Republican, Repubs would blame Congress. With a Demo as President, Repubs are blaming "Washington." But they haven't provided any better idea, other than, "Not what the Demos offer!"