Carter gave up the presidency to save America then. Volcker did the right thing.
replyThe bigger picture being that this is political nonsense. We all know Reganomics.
replyThey did not pay their bill for their own agenda then, and they have still not paid their bill for trillions in follow-on expenses.
replyThey cut taxes and debt-financed war, which forced the US further into debt.
Reagan supported those interest rate changes. Reagan than continued to push deficit spending well after the recovery from those first couple years, a huge lasting trend in Republican administrations ever since.
replyIt's also very hard to assume that Reagan being elected in 76 would've avoided the oil-driven inflation at the end of that decade.
But of course, we've decided as a country/media to generally blame Biden for non-policy factors that put the economy on a wild bullwhip ride from 2020-to-2023ish, soooooo... maybe Reagan can deal with getting the blame for the inflation too!