Time has an interesting article attempting to compare Obama with Carter. But I think the greater issue is the article's comparison of Bush and Carter.
Start with President George W. Bush, whose deep unpopularity has set the tone for the campaign. In the late 1970s, the public came to regard Carter as a failed President, and his failure colored attitudes toward his party for more than a decade. Republicans tied Democrat after Democrat to the stagflation and foreign policy weakness of that era. Now Republicans worry that perceptions of Bush are going to hurt them for a generation.
Just as Americans reacted against Carter by voting Republican, will Americans so dislike Bush that they move toward the Democrat Party? Bush could be another Carter, but he could also end up being another Truman. Both Truman and Carter were vilified and had very low popularity ratings. However, Truman is now seen as an "above average" president, even though liberals dislike his cold war policies.
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