How would you describe the basic political beliefs of Bill Clinton?
Centrist "New Democrat."
Clinton was, for a Democrat, quite fiscally conservative (He allegedly had a note posted near his desk reminding him "It's the economy, stupid!"). While he gave weight to social justice positions (civil rights for gays and blacks, for instance), he also signed legislation to dismantle welfare (as it had been practiced since the Johnson administration) and he enacted a "Don't ask, don't tell" policy for LGBTs serving in the military, which at the time seemed like a good compromise that split the difference between two extreme positions.
He exemplified the Third Way philosophy that dominated the Democratic Party in the 1980s and 90s, combining liberal ideals with pragmatic fiscal conservatism.