Ten weeks later Reagan was shot and wounded in an assassination attempt but the

Ten weeks later reagan was shot and wounded in an

This preview shows page 10 - 11 out of 11 pages.

in conjunction with his inauguration speech. Ten weeks later, Reagan was shot and wounded in an assassination attempt, but the “Gipper” pulled through in a remarkable recover for any old guy He implemented the “Reagonomics” program to deal with the challenges facing the US economy. Reagonomics consisted of: - Major reductions in tax (35-30% over 3 years) - Massive cuts in government spending: the main savings were to come from Social Security which Reagan was convinced was being misused Reagonomics essentially ensured that the rich became richer & the poor became poorer Households below the poverty line gained an average of $20 a year from tax cuts while losing $410 a year in Social Security benefits Households with incomes higher than $80 000 per year received an average of $8500 a year in tax cuts while losing $139 a year in benefits One area where the government spending was not reduced was in the military, which increased drastically under Reagan. Reagan committed the US to increasing its military strength - 100 MX missiles to be placed in moveable launch pads in Wisconsin - 100 BI bombers - The construction of 1 new Trident thermonuclear submarine a year - NASA was given extra money for its Space Shuttle Program, as Reagan aimed to have a permanently manned space station in orbit within the next decade Despite the widening gap between rich and poor, Reagan’s policies were successful in reducing inflation, stimulating industrial growth and thereby reducing unemployment National confidence was increasing and Reagan wont he 1984 presidential election with the largest popular vote in US electoral history Foreign Policy Reagan’s presidency marked a strong shift to the right in foreign policy. He was committed to taking a tough line against communism (after all, he went to Berlin and publicly addressed the Soviet Union as the “Evil Empire”) and was unwilling to accept the spread of communism in Central America, as he viewed this as an immediate threat to American society 1980: Iran-Contra Scandal Pt. 1 (not made public until 1989-1992): While trailing Carter by a slight margin in the electoral polls, Reagan’s election team conspires to make a deal with Ayatollah Khomeini of Iran for the release of US prisons 1982: 800 US Marines were sent to Lebanon to supervise the evacuation of the PLO from Beirut. Withdrawing the Marines was a difficult task and soon there was over 1600 Marines committed to the city. Suicide combers struck at US and French forces in Beirut killing 219 soldiers and 58 French troops. The US withdrew its forces 4 months later
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1983: 5000 US troops invaded the island of Grenada to overthrow a communist government that had seized control of the island. Reagan claimed that Grenada was being used by the Cubans as a base to spread communism and train the Greandan army for further acts of aggression. (Fewer than 600 Cubans were found on the island, and most of them were constructions workers) 1983: Korean airliner shot down just inside Soviet airspace, killing all 269 people on board. The
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