Reagan Years Flashcards
What are the goals of Supply Side Economics/Reaganomics?
- Reduce taxes and people will work more.
- People will have more money to spend.
- Economy will grow.
- Government will collect more taxes.
What will Dem. and Rep. say when Government tries to cut taxes?
Don’t cut our programs. Tax reduction will fail.
- Reagan debt = $2.5 Trillion
Election of 1984?
Reagan (R) - 73/Bush is VP.
Mondale (D) - Was Carter’s VP/From Minnesota.
Reagan wins in a landslide.
Iran-Contra Scandal?
- US will sell weapons to Iran to fight terrorists.
- Will give money to Contra’s in Nicaragua - Illegal because Congress said to stay out of Nicaragua.
- Democrats want Reagan out - Almost Watergate v2.
Gorbachev?
Leader of Soviet Union.
- Wants to Reform SU.
What does Reagan do with SU?
- “Star War Program.”
- Missile defense program.
Election of 1988?
Dukakis (D) - Gov. of Mass.
- VP is Benson (Senator from Texas).
Bush (R) - Quayle is VP.
- Will attack Dukakis’ liberal ideas.
- “Read my lips, NO NEW TAXES!”
- Reagan will work with Bush (Honored at Convention).
Bush Wins!
What does Bush do his first four years in office?
- Communism ends.
- Cold War ends.
- Germany will open gates for the Berlin Wall.
- Wall will eventually come down later in term. - America will be happy.
August 1991?
- Soviets try and take out Gorbachev.
- Boris Yeltsin will stop it by rallying the people.
- Yeltsin scales back nuclear weapons.
- —- Ends Cold War.
- —- Hurts US economy.
South Africa?
- End of Apartheid (Extreme segregation).
- —- Nelson Mandela is imprisoned (1961 - 1990).
- —- Becomes president upon release.
Bosnia?
- Peace troops sent out to stop the ethnic killings.
- Milosevic was responsible/Arrested in 2000 for crimes against humanity and genocide.
- Dies at 64 before trial ends.
- 1992 = 150,000 dead.
Persian Gulf War?
- Saddam Hussein, Iraq’s dictator, wants Kuwait’s oil fields (would control 20% world oil).
- US afraid he will try for Saudi Arabia’s oil.
What will Bush ask Congress to do about the oil situation?
- Asks to use force - is granted permission.
- Operation Desert Storm.
- Starts Jan 1991 (Lasts 5 Days) with 500k soldiers.
- We lose 148 men/Iraq loses 25k.
- US will not push for Hussein to step down.
- Bush popularity now at 91%.
Election of 1992?
Clinton (D) - Gov. Arkansas./VP is Al Gore.
- Draft Dodger.
- Participates in anti-war rallies and Am. Flag Burning.
- “New Democrat.”
- Wants to fix economy.
- Family was poor.
- Caught smoking pot.
Bush (R) - Quayle is VP.
- Economy will go bad.
- Need temporary new taxes.
Perot (I) - Wants to run Am. like a business.
- Billionaire.
- Hates Bush.
Clinton Wins!
NAFTA?
North Atlantic Free Trade Agreement.
- No import taxes between US/Mexico/Canada.
