Chapter 41 & 42 Reagan Administration

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Presentation transcript:

Chapter 41 & 42 Reagan Administration Ronald Reagan won the election of 1980, beating Democratic president Jimmy Carter

Reagan's economic program called for tremendous tax cuts, amounting to 25% across-the-board reductions For the first time in the 20th century, income gaps widened between the rich and the poor

1983, Reagan announced his intention to pursue a high-technology missile-defense system called the Strategic Defense Initiative (SDI), also known as Star Wars

Mikhail Gorbachev became the leader of the Soviet Union Glasnost introduced free speech and a measure of liberty Perestroika adopted many of the free-market practices of capitalism