Medicare and the Vietnam War were big contributors to the super inflation of the 70s.  Remember 21% prime rate, 16% mortgage rates, which led to the S&L meltdown in 1980?  Deep recession then, which Reagan fixed with tax cuts, and 4% - 5% GDP growth over his tenure.

Sound similar to 2007-08?  Big difference though.  Obama wasn't up to the job.  All talk...example, $900 billion stimulus for "shovel ready" projects.  What happened?

He doubled the national debt to $20 trillion.  He spent more than 43 presidents before him.  Unbelievable!

And I haven't even gotten to Obamacare, Dodd Frank, and other stupid regs via exec orders (result of his mighty pen).  

Oh...and his foreign policy brilliance left the mid east in flames.  But this is a subject for another day and story on his legacy.

Now, we are in very deep kim chee.