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Reagans+Economics+Kelly+Schwebel - individual savings and...

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Running head: REAGAN'S ECONOMICS 1 Reagan's Economics Kelly Schwebel HIS/135 July 7, 2011 Cynthia Krutsinger
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REAGAN'S ECONOMICS 2 Reagan's Economics Reagan changed both the direction that the world was moving and the way Americans lived. In the 1980s, Reagan had a few goals to stimulate the economy. First, he wanted to cut taxes and ensure that tax revenue continued to increase. Second he wanted to reduce the cost of labor and decrease unemployment rates. Reagan’s economic philosophy called “Reaganomics,” motivated the government on to larger expenditures. In order for the economy to generate wealth, Reagan believed it needed to be stimulated. By Reagan cutting taxes for the American’s personal income this gave them the motivation and ability to increase their economic activity. The idea was to spur the economy and
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Unformatted text preview: individual savings and investments. In the fall of 1982 began sixty months of uninterrupted growth. Nearly 15 million new jobs were created during this period, and just under $20 trillion worth of goods and services, measured in actual dollars, were produced ( Edwards, PhD, 2003). Although Reagan wanted to stimulate economic growth, by the end of his term many workers were on strike. The unemployment rate was it’s the highest level, and the American’s budget was in the red. REAGAN'S ECONOMICS 3 References Edwards, Ph.D, L. (2003). The Origins of the Modern American Conservative Movement . The Heritage Foundation. Retrieved from http://www.heritage.org/Research/Lecture/The-Origins-of-the-Modern-American-Conservative-Movement...
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