Carter was an extension of the depression (mood, not economic) of the Vietnam war, and as such, Reagan thankfully lead us out of it. But that was it. Since then, we did have the 90s when we had randy clinton, but a republican congress to check him (so foreign policy suffered, but the economy thrived). Since then, we have been told we are all bad again, and there has been no strong leader to stand up to the cancer of liberalism.
I have not lost hope there will be another, and that is why the bad tasting medicine of Obama is necessary. If we do not get it out of our systems now, it will fester and grow. If Obama does not cure us, then we are doomed. Already they are talking about pulling our AAA rating. From there, it is a quick slide into a stagnant economy that will be hard to pull out of. Europe had America to help them out of their stagnation. America has no one to lead them out.
You should look up Friedman's "Next hundred years". There is a very insightful analysis on the economical cycles the USA went through, which begins with a revolutionary economical solution with a "breakthrough president" that eventually becomes the very problem of your economy and ends with a "failed presidency" that tries the old solution to the problem while having no effect. Eventually, a new "breakthrough president" will come around and save your country, until the next problem hits (provoked by the solution to the previous problem).
A good example of Failed/Breakthrough presidencies would be Grant/Hayes, Hoover/Roosevelt and Carter/Reagan.
Hoover's failed solution was to increase taxes on companies, doing company incentives and easy access to financing. Roosevelt simply boosted the population's capacity to consume, favoring internal consumption.
Carter's problem was the lack of effeciency and competitivity of the USA. He tried to do Roosevelt's style of helping the economy by favouring the consumers, and failed. Reagan came along and revolutionnised the economy of your country.
The next crisis will hit because of over-entrepreneurship in your country and the lack of labor to support these business in development. The "failed presidency" will try to solve the problem by lowering taxes to "attract people not working because taxes are too high", but it won't work. Stratfor's projection will be that the solution will be a shift in the mentality about immigration, and you will probably open up your doors to Mexico and the rest of the world.
Obama is simply a president in the middle of the cycle. He cannot change your country's inertia, as Clinton couldn't either.