Regarding Reagan: had the economy not started improving in 1983, there's a good chance he wouldn't have been re-elected, even against a twerp like Mondale. But it did improve his first term.
Also, the "moderate tax increase on businesses" quote should be placed in context. Reagan approved several modest tax increases during his presidency, but through ERTA and such, the overall tax burden on individuals and (especially) businesses was much reduced from what it was. That whole paragraph rubs me the wrong way, as it seems to imply "Reagan raised taxes and the economy got all better." But that might just be my own bugaboo, as I've been subjected to that talking point too many times lately.
Obama's first term sounds much like Regan's, economically speaking.
This ain't morning in America. Not by a long shot.