the 1980s. ronald wilson reagan former actor turned governor of california in 1966 very conservative...
TRANSCRIPT
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The 1980’s
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Ronald Wilson Reagan
• Former actor turned governor of California in 1966
• Very Conservative
• Lost to Gerald Ford in the 1976 Republican Primaries
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Review
• Carter fails to win re-election done to the Iran Hostage
• At the time, Communism is winning the Cold War: Afghanistan, Nuclear Weapons, and various other victories
• Carter is seen as inept and unable to show strength to the rest of the world
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Reaganomics
• The goal is to spur economic growth
• First developed by English economist John Keyner in the 1920’s and 1930’s
•
• “To improve the economy, the best thing to do is to increase consumer’s demand for goods.”
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Reaganomics
• Give Money:• 1. Directly: Government Aid• 2. Indirectly: Jobs
• Once people have money, they will buy goods; the more goods available, the more people will be interested in buying
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Reaganomics• This is the same economic theory that was
used to help the United States to get out of the Great Depression.
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Supply Side Economics
• Cut taxes: This will place $ in the hands of businesses and investors
• These people will in turn hire more workers and produce more goods
• Investors must invest, not pocket money!!!
• Reagan cut taxes:• 1981 5%• 1982 5%• 1983 10%
• He also cut the sizes of many government agencies like:Dept of EnergyDept of
TransportationDept of BankingEPA
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Some things were left alone
In 5 years, the United States spent 1.5 TRILLION on defense
Strategic Defense Initiative (SDI) 1983; Massive satellites would shoot down nukes from space
Research for things like AIDS were non-existent because of the stigma of the disease
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Reagan Scandal
• Reagan was wildly popular all 8 years of his Presidency
• One scandal continues to follow his legacy: Iran-Contra Scandal
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Reagan Scandal
• The country of Nicaragua was run by a communist government
• These people were called Sandinistas
• The United States wanted to overthrow the country
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Reagan Scandal
• The United States trained revolutionaries, called Contras to overthrow the Nicaraguan government
• Congress found out that secret missions were being carried out and stopped military and economic aid
• This did not stop the CIA, they diverted money from profits they made by selling arms to Iran
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Reagan Scandal• Arms were sold in hopes of
freeing hostages in the Middle East
• This was done under Reagan’s watch because he used to not read documents or take the word of his workers.
• No one will ever know what he knew
• Lt. Oliver North takes the fall for the whole ordeal
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Lastly…..• In 1981, Reagan is shot by
an assassin's bullet
• John Hinkley Jr. wished to impress the actress Jodie Foster.
• Jodie never knew the man or ever spoke to him
• The Nation never knew how much disarray the government was during this event.