Reagan’s domestic policies a “revolution”?
Someone brought up Ronald Reagan in class the other day, and then my teach said, Well, Reagans domestic policies were a revolution. He didn't go into much detail about it.
I'm curious, what did he do that was revolutionary? Where were his domestic polices in reference to that??
Thanks!
Comments
His was the first attempt since Roosevelt to turn the tide of Liberalism.
... His introduction of "Supply Side" economics where decreased marginal tax rates led to increased tax revenues was thwarted by a Democrat Congress which continued to increase spending far beyond the additional tax revenues brought in.
... His confrontational approach to the Soviet Union (and buildup of the National Defense Forces denuded by the prior Democratic administration) was a complete U-turn from the conciliatory policies of the past, and put the U.S. in a superior negotiating position. And, with his "star wars" proposal, he forced the Soviets into an untenable economic position which led to its downfall.
Reagan Domestic Policy
Ronald Reagan Domestic Policy
It is very very debatable. Sounds like your teacher may be conservative.
Reagan's domestic economic policy was called Reaganomics and was supply side economics. Basically, debt and spending grew so much that the US became a debtor nation (First time since WWI I think) and there were many deficits. The unemployment rate was at 7% when he first entered office (1980) and then rose to 10.8% in 1982 (2 years into office) but then went down to a nice 5.4% in 1988 (The year he left). Reaganomics started off really shaky but some tweaks allowed it to really encourage prosperity.
Of course not everyone was prosperous. The income gap kept increasing with his trickle down economics theory that really didn't succeed in his goal of allowing for more money in the top bracket of the rich to "trickle down" into the middle and lower classes. His tax cuts to the top tax brackets are criticized and shows his fiscally right stance.
Reagan didn't increase the minimum wage at all but the GDP rose from a negative point to a great improvement of 4.1% in 1988. He tried to minimize his directed focus on poverty/homelessness and really believed his trickle down economics approach was helping them. It is debatable if it really ever did.
So really, the amount of debt produced during his presidency was almost unheard of and his budget deficits added onto the consequences but I still believe he was a good president.... just a bit overrated in terms of how he did economically.
It was Reaganomics. That's where the govt take from the poor and give to the rich.