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