Reagan's Presidency
"With god we'll solve the problem"
''An American Revolution for hope and opportunity" -Ronald Reagan
President Reagan wanted a 30% tax cut for the first 3 years of his presidency. He believed undue tax burden , excessive government regulation, and massive social spending programs harmed growth, but congress would only cut 25%
25% cut
Reagan believed that tax cut would generate more revenue for federal government. The Federal Reserve Board believed the tax cut would re-ignite inflation and rise interest rates. The high interest rates caused the value of dollar to rise on international exchange market, making American goods more expansive.The exports decreased while imports increased. Economy was stabilized in 1983 and the administration showed national growth.
""window of Vulnerability"
Reagan insisted that the u.s was open for "Window of Vulnerability" to the Soviet Union about nuclear defense. Reagan also proposed a space-based missile defense system called Strategic Defense Initiative, Hoping to shield the U.S from a Russian missile attack.
Presidents Reagan
"I now begin the journey that will lead me into the sunset of my life. I know that for America there will always be a bright dawn ahead."
Election of 1980
President Carter's inability we recover the hostages from Iran made him look weak. Ronald Reagan took advantage of Carter's difficulties and won the election of 1980. There is Rumors that Reagan Negotiated with the Iranians to not release hostages before the election. On January 21,1981 hours after Ronald Reagan delivered his inaugural address, the hostages were released after 444 days.