Ronald Reagan

By Miranda Reyes

Election of Reagan

- Ronald Reagan ran in 1980 and 1984

- In the election of 1980 Reagan (Republican) ran against Jimmy Carter (democrat) and John B. Anderson (Independent)

- Reagan won by a big amount of electoral votes

- in the election of 1984 Reagan ran against Walter Mondale (democrat)

- This election Reagan also won by a huge amount of electoral votes

- Later in Reagans presidency he became known as "Teflon President" which means the president to which nothing harmful would stick

Concerns over the National Budget

- Reagan was in need of congress to approve budget proposals

- Congress went into the Great Society

- Tax cuts over 3 years

- Reagan was on TV for a new tax cut bill

- the bill used "Supply side economics" to lower individual taxes

- almost eliminated federal estate taxes

- Nation went into a bad recession

- Yuppies, young urban Professionals

Reagan and the Cold War

- Reagan wanted to defeat the Soviets by an arms race to make the Soviets go bankrupt

- Reagan used Strategic Defense Initiative (star Wars), which was a system of lasers that could fire from space and destroy ant nuclear weapons that were fired by Moscow

- SDI wasnt ever built

- The Soviets clamped down on Poland's Union "Solidarity" and received economic sanctions from the US

Iran-Contra Imbroglio

- November 1986, American Hostages were using money to aid Nicaraguan Contra Rebels

- violated congressional ban on helping Nicaraguan rebels

- Reagan also had vowed not to negotiate with terrorists

- An investigation was put in place

- This investigation gave Reagans foreign Policy a bad image

- Reagan continued to be popular among the people

Reagan's Economic Legacy

- Supply Side economics said it would that cutting taxes would increase government revenue, but it added $2 Trillion to the debt

- debt was financed by foreign bankers

- Reaganomics was widening the gap between rich and poor