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A bit of historical research on your part is in order.  I was an adult during J. Carter's presidency and the economy was not good.  21% interest on a new car, 25% on a used car (if you had good credit).  17% home mortgage loans, unemployment in the double digits, inflation in the double digits.  J. Carter was the only president who had an actual misery index attatched to his time in office.  Reagan inherited a mess.