The presidency of Ronald Reagan began at noon EST on January 20, 1981, when Ronald Reagan was inaugurated as the 40th President of the United States, and ended on January 20, 1989. Reagan, a Republican from California, took office following a landslide victory over Democratic incumbent President Jimmy Carter in the 1980 presidential election. Reagan took office in the midst of poor economic conditions, as the country experienced stagflation, a phenomenon in which both inflation and unemployment were high. The economy experienced a brief period of growth early in Reagan's first year in office, but plunged into a recession in July 1981. Critics charged that Reagan's policies promoted significant racial disparities in the prison population, were ineffective in reducing the availability of drugs or crime on the street, and came at a great financial and human cost for American society. Supporters argued that the numbers for adolescent drug users declined during Reagan's years in office. Rumors began to circulate that he had Alzheimer's disease.