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Unformatted text preview: August 9, 2005 The Reagan Revolution I. Reaganomics 1. Deregulation safety threatened 2. domestic spending ($30 billion) homelessness 3. cut taxes by 25% tax revenue (2 + 3 poor got poorer, rich got richer "the sleaze factor") 4. defense spending government spending (3 + 4 budget deficit national debt) The "Teflon President" - a nice man - defense spending + oil prices = economy - a simple and appealing - the Horatio Alger myth - the politics of distraction II. The Evil Empire 1. Back to the Cold War A. repudiated dtente B. repudiated human rights C. increased defense spending D. missiles in Europe E. Star Wars By 1985 the deficit shot up higher than during Vietnam 2. The invasion of Grenada 3. Election of 1984 A. Republicans: Ronald Reagan/George Bush B. Democrats: Walter Mondale/Geraldine Ferraro III. The Iran-Contra Affair 1. American hostages in Beirut 2. Nicaragua (cut off aid to Sandinistas and mind their land) A. Reagan creates the Contras (a group of guerrilla fighters) to overthrow the Sandinistas B. Congress bans aid to Contras 3. The Scheme A. Reagan secretly sells weapons to Iran B. in return Iran pressures terrorists to release hostages C. Reagan secretly sends profits to Contras 4. Here we go again... A. The cover up B. Congressional hearings C. Impeachment? D. Special Prosecutor brings indictment ...
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- Summer '08