Less than two years after President Joe Biden entered the White House, the United States has been crippled by record-high inflation and an energy crisis that has placed the economy in a functional recession. When he entered office, inflation was 1.4% — a metric that has since sextupled to 8.5%.
The situation will sound awfully familiar to those who were alive four decades ago. President Jimmy Carter ascended to the White House when inflation was 5.2%. When he left four years later, inflation reached 11.8% after approaching as much as 14.8% in early 1980.
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