Ronald Reagan defeated President Jimmy Carter in November 1980 to become our nation's 40th President. At the time, America was facing significant economic woes, just as we are today. However, it is important to note the differences between how Reagan saw the problem in comparison to the current Administration. This video contains excerpts from Reagan's first inaugural address on January 20, 1981. His words ring out as true today as they did nearly 30 years ago.

UPDATE: Check-out this recent opinion column entitled "What Would Reagan Do?'" on Fox News.