REGAN Flashcards
what were Reagan promises (5)
- strong leadership
- less ‘big gov’
- moving away from ‘great society’ and ‘liberalism’
- fix the economy
- encouraging rugged individualism
What did he focused on
defeating communism
How is he similar to FDR
- campaigned for radical change
- control federal spending = both failed
- both charismatic people wanting to replace bad presidents
- encouraged rugged individualism
what was ‘supply side economics’?
- emerged in the late 70’s
- where economy was driven by production and encouraged saving
- restraints on production removed- had a ‘trickle down’ economic effect
What did Reagan do in his first moments as president?
- fired white house staff and froze federal government hiring
- said to have froze office furnishing
- used executive orders to set up advisory groups
what does deregulation mean
removing federal control in industry, state and local gov
what 4 points did Reaganomics include
- cutting federal deficit
- personal and business tax reduction
- deregulation
- planned control of money supply (keeping inflation down)
what was positive about Reagan’s attempted assassination
- he bounced back with humor
- created popularity
- gave him more mandate for change
did Reagans policies stop inflation
- money supply restrictions= increase of interest rates, hurt industries buying on credit
- caused unemployment to increase
what happened to people with employment
- more people deemed ‘unemployable’
- some people had no yearly wage or insurance
did his policies increase productivity
yes, in finance but not in manufacturing
what happened to poor and rich people
poorer became poorer while rich became richer
did his policies encourage people to invest
- rich invested due to businesses doing well
- ordinary people didn’t
problems to cut down ‘big gov’ led to deregulation, caused a competitive financial environment - caused stock market crash in 1987
- people lost savings and investments
what was Reagan’s most notable failures
policies NOT reducing the deficit
- this was because of his spending on the military and borrowing from abroad
did policies increase personal wealth?
- tax cuts made people richer
- per capita disposable income grew