How the Biden economy compares with Jimmy Carter’s

You might have heard: Joe Biden is shaping up as the next Jimmy Carter.

As a Democratic president in the 1970s, Carter had to deal with surging inflation, as Biden does now. Carter also faced an energy crisis, triggered abroad, much as Biden is now trying to tackle soaring gasoline prices caused by Russia’s invasion of Ukraine. Carter famously claimed the nation faced a “crisis in confidence,” which is arguably the case under Biden, too, given that consumer confidence, by some measures, is at the lowest levels on record.

Republicans, of course, hope there’s one more similarity between Jimmy Carter and Joe Biden. Carter was a one-term president who lost his 1980 reelection bid in a landslide victory for Ronald Reagan. Republicans controlled the White House for the next 12 years. It’s not yet clear if Biden will run for reelection in 2024, but Democrats do seem teed up for a drubbing in this year’s midterm elections.

As part of the Yahoo Finance…

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