Reaganomics Abi Smith

Ronald Reagan tried to get the United States out of an economic slump. He cut government spending, lowered taxes to promote business, and increased deficit spending.

Ronald Reagan developed the "trickle down theory" which is like supply-side economics. It states that all tax cuts trigger economic growth. The top tax rate ended up falling from 70% to 28% and it ended the 1980 recession.

As the cold war heats up, military spending rises. lowered prices in some industries and increased competition, but created some scandals By the end of Reagan's presidency, government spending increased by 2.5 percent annually. By the end of both Reagan's terms, the national debt doubled.

Social stance under reagan

Public Action-----> Private Interest. AIDS. Abortion. Drug Abuse. Just Say No. Educational debate about reform school, voucher debate. -ERA fails, equal pay issues remain. African Americans are elected to major political positions. Women make political advances. Sandra Day O’Connor, Geraldine Ferraro. Affirmative Action debated. Gay rights. Reagan begins US effort to help Nicaraguan rebels

political information

There is a lot less federal government action and entitlement programs more community action. Things like the New Right, Conservative Coalition, Moral Majority were introduced under the Reagan era. Conservative groups pushed new role in government. Ronald Reagan presents strong issues on controversial ideas, like abortion and gun control.Then a long the road comes the 1980 election of Ronald Reagan and George Bush. Reagan and Bush appoint conservative Justices. Reagan won a landslide election in 1984. George Bush won the 1988 election.

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