No, Reaganomics referred to the Reagan policies of cutting taxes, particularly for corporations and the wealthy, attacking unions, deregulation, particularly of the financial sector and the EPA, basically supply-side economics from the Chicago School. Volker's actions to crush an inflationary spiral were unrelated to Reaganomics.

While we were deeply in a vicious cycle when Obama took office the damage from that cycle was intentionally exacerbated by the rightwing disinformation industry, and the actions, often to block action, of the GOP in congress, for example several threatened and one realized government shutdowns, several debt limit crises, the "fiscal cliff" dramatics, the refusal to pass infrastructure and other stimulus bills, all of which took significant bites out of the recovery.