The Reagan Years

The Reagan Years - The Reagan Years The Great Communicator...

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The Reagan Years The Great Communicator Ronald Reagan B-February 6, 1911 B film actor 1966 -Governor of California Re-elected in 1970 Reagan’s cabinet Secretary of State-Alexander Haig Sec of Defense -Caspar Weinberger Secretary of Treasury-Donald Regan "The Troika" (from left to right) Chief of Staff James Baker III Counselor to the President Ed Meese Deputy Chief of Staff Michael Deaver Assassination attempt 69 days after inauguration, he was shot by a would-be assassin, John Hinckley Press Secretary James Brady was also shot "Honey, I forgot to duck“ Left the hospital 12 days later Nearly died America never knew this. Brady Bill, 1993 Named for James Brady Purchasers to wait up to five days for a background check to occur before being allowed to purchase a handgun was replaced by a computerized criminal background check prior to any firearm purchase from a dealer holding a Federal Firearms License Fighting stagnation High inflation Combined with economic stagnation Unemployment Economic recession Reagan sought a solution across-the-board tax cuts
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combined with reductions in social welfare spending “Reaganomics” Two key ideas: Lower taxes Smaller government controls "Trickle-down economics“ "Voodoo Economics” ERTA Economic Recovery and Tax Act, 1981 Stimulate business activity by lowering taxes overall and slashing rates for the rich. . Reduced personal income taxes 25% OVER THE NEXT THREE YEARS Free capitalists from government regulations to increase business efficiency and innovation OOPS But less money for federal programs In fact, Congress shifted $70 billion per year from domestic programs to military It worked? Inflation dipped 3% per year National economy boomed in the short term. 20 million jobs for professional and managerial workers, support staff But… Record deficit spending Tripling of the national debt by the end of his second term. Balanced Budget ,1984 America will forgive deficits if we are strong militarily Budget Director-David Stockman Slash military Slash Social Security PAC Summer of 1981 Set limits for public employee unions Signaled that it was acceptable for businesses to play hardball with unions
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Air traffic controllers were on strike Reagan fired them Proved to be a political coup as the public came to perceive the strikers as greedy and unconcerned with public safety. Decline of labor unions
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This note was uploaded on 01/05/2012 for the course HIST 1302 taught by Professor Sarabostelmann during the Fall '11 term at Collins.

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The Reagan Years - The Reagan Years The Great Communicator...

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