EN... I'm sorry but you are incorrect about President Reagan. While it is true that the sitting President inherits issues from the previous administration, the exact same logic can be used to explain issues at the start of each previous administration. So by using this logic, I guess it's prudent to blame the 13% inflation rate that President Reagan inherited on President Carter.
When Reagan entered office the economy was in deep trouble.
1a. In 1980 the inflation rate was well over 13%.
1b. In 1988 the inflation rate was down to almost 4%.
2a. In 1980 the national debt (per the US Treasury) was $900B
2b. In 1998 the national debt rose to $2.6T.
3a. In 1980 the average cost of unleaded gasoline was around $1.20 per gallon.
3b. In 1988 the average cost of unleaded gasoline had dropped to about $1.00 per gallon.
4a. In the 1980's the US Dept of Labor estimates the consumer price index to be around 77.
5a. In the 1980's the most significant US military operation was to the island of Grenada; and a peacekeeping operation in Beirut.
Government - Historical Debt Outstanding - Annual 1950 - 1999
Total Energy - U.S. Energy Information Administration (EIA) - U.S. Energy Information Administration (EIA)
Vehicle Technologies Program: Fact #364: March 21, 2005 Historical Gas Prices, 1919–2004
Consumer Price Index (CPI-W)
If we look at the sitting President, the inflation rate has been fairly stagnant (which is a good thing!). What has not been stagnant has been inflationary pressures.
1a. In 2008 the national debt was $10T.
1b. In 2012 the national debt is expected to hit $16T.
2a. In 2008 the average price of Gasoline had dropped to almost $1.60 per gallon.
2b. In 2012 the average price of gasoline is expected to hit a summer time high of $4.00 per gallon (in California, Alaska, and Hawaii it will hit $5.00 per gallon).
3a. At the present time the consumer price index is sitting at around 226.
4a. In this decade we have been involved in wars in Iraq and Afghanistan (started prior to the current administration); we provided aerial support and helped to oust a dictator in Libya, and now have troops in the Gulf of Hormuz in the event an armed incursion into Iran becomes necessary. Hostility in Syria and Egypt may mandate US involvement in these nations at some point in the future.
Government - Historical Debt Outstanding - Annual 2000 - 2010
Debt to the Penny (Daily History Search Application)
Vehicle Technologies Program: Fact #517: May 5, 2008 State Average Gasoline Prices, April 18, 2008
Vehicle Technologies Program: Fact #675: May 16, 2011 Gasoline Prices by Region, May 2, 2011
California gas station surpasses $5 per gallon - Gasbuddy Gas Prices
The challenge here is while the sitting President has done some good things for the nation, he has reneged on a number of promises (not unusual with any President), and has proven himself to be no different than any other sitting President in recent history. And given that this was a President who promised us change, some of the American people are feeling that this President betrayed them...