1980 90s
TRANSCRIPT
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Presidents: Ford to Clinton
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What domestic problems did Ford face?
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• Nixon pardon
• Inflation
• Recession
• Vetoed more than Hoover, 39 bills in during 15 months
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What was memorable about the election of 1976, and the domestic program
of Carter?
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• Very low voter turn out• created Dept. of Energy• created Dept of Education• Gave amnesty to draft dodgers• A 2nd oil crisis in 79 and Iran
bring approval ratings down to levels lower than Nixon’s
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Why did Reagan get elected in 1980 and 1984?
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Why did Reagan get elected in 1980 and 1984?
• Voters getting older
• Revival of religious fundamentalism
• Deep dissatisfaction with Carter
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How did Reagan address the nations economic problems?
• Cut taxes
• Increased defense spending
• Cut social services spending
• Tax cuts defense spending = huge deficits
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“Reaganomics” or “Trickle Down Economics”
• Belief that $$$$ for the wealthy and business helps everyone else
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What caused the economic slump during Reagan’s first term?
• Bankers feared the deficit would devalue bonds
• So interest rates were too high for growth
• Defense and Social Security Spending
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What did he do about it?
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• Couldn’t cut defense or Social Security
• Instead
–Cut aid to things like education, school lunches, and cultural programs
–Then raised taxes
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What factors enabled Reagan’s Election in 1984?
• Low inflation
• OPEC lowers oil prices
• promised to cut taxes
• Mondale was a Geek
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What was that Iran-Contra thing about?
• Hostages in Lebanon• US secretly sold arms to Iran
in exchange for getting the hostages freed
• $$ from deal went rebels in Nicaragua
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What economic event marked a low point in the 1980’s?
• Black Monday, Oct 19, 1987
• market plunged 23%, double the crash of 1929
• $560 billion lost
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What were George Bush’s domestic priorities?
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What were George Bush’s domestic priorities?
• Drug War• “No new taxes”• Reducing national debt• Reducing debt made it hard
not to raise taxes
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What were Bill Clinton’s domestic Priorities?
• Health care
• Economic recovery
• Impeachment