Period 9 1980-present Flashcards
Who was elected president in 1980?
Ronald Reagan
Reagan was elected after running against Jimmy Carter.
Who was Ronald Reagan’s vice president?
George H. W. Bush
Bush served as vice president during Reagan’s presidency.
What qualities made Ronald Reagan popular as an actor?
Relaxed, charming, and funny
These traits contributed to his public appeal.
What commitment did Ronald Reagan have that was significant during his presidency?
Commitment to the military and to strengthening the economy
Reagan’s policies focused on enhancing military power and economic growth.
What type of change did Ronald Reagan bring to government policies?
Conservative change
Reagan’s presidency marked a shift towards conservative policies.
Fill in the blank: Ronald Reagan was known for his ability to ______ issues.
simplify
Simplifying complex issues was one of Reagan’s strengths.
What was the political context during Reagan’s election in 1980?
A change in feelings towards leadership in the United States
Reagan’s election reflected a desire for a new direction in leadership.
What are Reagan’s new economic policies called?
Reaganomics
Reaganomics refers to the economic policies implemented by President Ronald Reagan during his administration.
What is the first component of Reaganomics?
Budget Cuts
Budget Cuts involved reductions in government spending on social programs.
Name three social programs affected by the budget cuts in Reaganomics.
- Mass transit
- Food stamps
- Welfare
Other programs affected included Medicaid, school lunches, and student loans.
What economic theory is associated with the tax cuts in Reaganomics?
Supply-side economics
Supply-side economics posits that lower taxes can lead to increased savings and investment.
What was the belief behind the tax cuts in Reaganomics?
If people paid fewer taxes, they would save more money
This theory suggested that increased savings would allow banks to lend more to businesses.
What was the third component of Reaganomics?
Increased Defense Spending
Increased Defense Spending involved nearly doubling military expenditures.
What was the name of the defense system created during Reagan’s presidency?
Strategic Defense Initiative
The Strategic Defense Initiative was nicknamed ‘Star Wars’.
True or False: Reaganomics included a focus on increasing social program funding.
False
Reaganomics emphasized budget cuts to social programs instead.
Fill in the blank: The military spending during Reagan’s presidency almost _______.
doubled
This increase was part of Reagan’s strategy to enhance national defense.
What was the state of the economy between 1981-1982?
The economy was in a recession and sinking fast.
This period marked significant economic challenges.
What happened to the economy in early 1983?
The economy started to become healthier, as consumers were spending more due to tax cuts.
Increased consumer spending is often linked to economic recovery.
What effects did the tax cuts have on consumers in early 1983?
Consumers had more money to spend.
This increase in disposable income contributed to economic recovery.
What was the impact of tax cuts on the stock market in early 1983?
The stock market surged.
A rising stock market can indicate investor confidence and economic growth.
What was the trend in unemployment during early 1983?
Unemployment declined.
Declining unemployment is often a sign of economic improvement.
Who benefited from the tax cuts during Reagan’s administration?
The rich benefited from the tax cuts.
This indicates a disparity in economic policy effects across different income groups.
What was the effect of social welfare cuts during Reagan’s administration?
The social welfare cuts hurt the lower class.
Social welfare cuts can exacerbate economic inequality.
What did Reagan do to supply-side economics by 1982?
Reagan stripped away the idea of supply-side economics.
Supply-side economics emphasizes tax cuts and deregulation to stimulate the economy.