Carter was certainly pretty ineffective as Pres. I don't think it was because he was incompetent, because he's a pretty smart guy. I also don't think it was due to corruption, because he's arguably the least corrupt President we've ever had. He just could never get people to reach any kind of consensus, or get on the same page. Which, btw, was Reagan's strength. But in my opinion, Reagan was grossly overrated. We had some good economic years for sure, but we had some bad ones as well. You mention overspending; Reagan was the king of overspending, the debt skyrocketed under him like never before (peacetime, at least). I actually think HW Bush was a better Pres than he's usually given credit for.

But yeah, I'd take a do over. What we need is an effective moderate third party. To have any power as a Republican, you have to be a nut-job right winger. To have any power as a Democrat, you have to be a nut-job left winger. The Libertarians are kinda all over the board. We need a stronger true moderate.