But again, in the 1980 recession, the underlying economic foundation remained sound. The 2008 crisis was so severe it turned the GOP from a party of social conservatives to a party of conservative socialists with the GOP leading he way with TARP. The problem was so severe that without the Federal government acting, even so called "safe" money market funds would loose their value. Breaking the value of these deposits was something which would cause panic. Hank Paulsen this year admitted he simply did not know what to do in 2008. In testimony about the 2008 crisis, Greenspan in 2010 stated the economic model he used his entire life had severe systemic problems. This type of fundamental crisis did not happen in 1980.
One could argue, albeit far for me to do so :-), is that in the 1980's Congress while disagreeing with Reagan on policy recognized that in a recession, the nation had to work together. In the current environment, the GOP has led us twice to the verge of default not caring about the greater consequences.
Senator George Voinovich (R.OH) was quite explicit in providing the history of how from the day Obama became President, his actions would be blocked.