The impact of the Reagan Presidency Flashcards
when was reagans presidency
81-88
was reagan republican or democrat
republican
when was bush’s presidency
1988-92
was bush a republican or democrat
republican
when was Clinton presidency
1992-96
was Clinton a republican or democrat
democrat
what were some of Reagans beliefs
- committed christian
-pro the nuclear family
-against abortion
what was reagans plan for economic recovery
-cutting the federal deficit- aimed to reduced the deficit from 22% of the GNP to 19%
-personal and business tax reductions
-deregulation
-planned control of money supply
what is the economic recovery tax act and when was it passed
1981 and it cuts marginal income tax by 23% over three years
what is the omnibus budget reconciliation act and when was it passed
1981 and proposes a variety of tax cuts that will take $35 billion out of federal spending
how successful was Reagans aim to stop inflation
relatively successful in 1980 inflation was at rates of 13.5% whereas in 1982 it was down to 6.2%
how successful were Reagans aims to reduce unemployment
unemployment rates went from 7.1% in 1980 to 9.6% in 1983
did reagans policies encourage people to save and invest
as the economy came out of recession during 1982 more people began to save and invest however due to the deregulation finial organisations took more risks therefore savings became more unsafe and ultimately ended in the savings and loans crisis
did reagans policies encourage people to save and invest
as the economy came out of recession during 1982 more people began to save and invest however due to the deregulation finial organisations took more risks therefore savings became more unsafe and ultimately ended in the savings and loans crisis
why did Reagans policies fail to reduce the deficit
-reagans huge tax cuts hoped that this would increase productivity and economic boom and that did not happen hence he ended up with a massive federal deficit
-between 1980-87 Reagan increased defence spending from 23-28% of federal spending
Did Reagans policies reduce the deficit
in 1980 the federal deficit was $59 billion whereas in 1983 the deficit was $208 billion
did bush continue Reagans economic policies
bush promised to continue Reagans policies however the democrats were in control of both houses making legislation more difficult to pass
did Clinton continue Reagans economic policies
her became a ‘new democrat’s campaign was economically focussed on low inflation, high employment abrade a reduced deficit
-his only difference was in increasing welfare and medical care
what were the aims of new federalism
producing less federal interference in state and local affairs, businesses, finance and all aspects of peoples lives
how was big government reduced in the short term
-cut federal regulations in half
-helped to bring down the cost of petrol by deregulation
-created a federal strike force
-replaced federal agencies with private sector ones
when was the deregulation of controls on fuel prices
1981
when was the bus regulatory reform act and what did it do
deregulates bus services in 1982
what was a problem with deregulation that affected small companies
when small companies were struggling big companies could easily buy the out therefore many big companies expanded whilst small independent business struggled therefore there was a rise in conglomerates
what is a conglomerate
an organisation that controls several businesses of different types
what did deregulation make big businesses easily able to do
fix a price structure so they did not have to compete
