Module 3 Discussion ECO 202.docx - The ten-year period that...

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The ten-year period that I chose was the 1980s. This was a time of major reform in the government due to a large amount of dissatisfaction about fiscal policies implemented in the 1970s. It was overall a period of economic growth, because of changes in autonomous spending as well as other influences that affected America as a whole. Elected in 1981, President Ronald Reagan was a main participant in the many fiscal changes that went on in America throughout his terms (1981-1989). He was initially elected because of his big promises to revise and reform several of the policies that the U.S were upset with during the Nixon administration. The main promise he made was to enact a major tax reform, which was accomplished in 1981 and was called the Economy Recovery Tax Act of 1981. He described it as “…a complete program of reduction in tax rates. Again, our purpose was to provide incentive for the individual, incentives for business to encourage production and hiring of the unemployed, and to free up money for investment (Wessel 2017).” Prior to this reform

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