Ronald Reagan
By Miranda Reyes
Election of Reagan
- 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
- 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 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
- 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
- debt was financed by foreign bankers
- Reaganomics was widening the gap between rich and poor