The core inflation rate is about
2%. It is going to increase to 3% this year, I suspect. The genie is getting close to getting out of the bottle. It is grand that petroleum prices are less important to the economy than they were in the 1970's. If they were, we would really be in the soup. The problem is, is that energy prices factor into the prices of so many other goods over time - but less so now, it this information age economy than before. And so it goes.
One thing to keep in mind is that people rating the Presidents (academic or general public are to the left of FReepers; academics way to the left).
Here are rankings on Wikipedia:
Scholars
1. Lincoln
2. FDR
3. Washington
4. Jefferson
5. T. Roosevelt
10. Eisenhower
15. Reagan
21. George Bush
Quinnipiac University Public Opinion (May 2006) Presidents since Truman:
1. Reagan
2. Clinton
3. Kennedy
4. Truman
5. Eisenhower
6. Carter
7. George Bush (43)
Johnson, Nixon and Ford were tied for last