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1980’s - The Reagan Years Chapter 20 - Sec. 2
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Ronald Reagan Born Dixon Illinois Sports Broadcaster Moved on to Hollywood - 50 movies 1947 - President of the Screen Actors Guild
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Reagan Speaker - General Electric Theater - G.E. TheaterG.E. Theater Barry Goldwater asked Reagan to speak for his presidential campaign Impressed wealthy entrepreneurs in Cali. 1966 Elected Gov. Ca. 1980 - Republican Presidential Nominee
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Election of 1980 Carter v. Reagan Reagan promised tax cuts Constitutional amendment to ban abortion “Are you better off than you were 4 years ago?” Reagan won 51% popular vote & 489 Electoral Votes
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Reagan’s Domestic Policy - Reaganomics Economy suffering“stagflation”- High unemployment & High Inflation 2 Theories of fixing economy: Monetarists = Believed: too much Money in circulation / Fix = raise interest rates Supply Side Economics = Believed:taxes were too high / Cut taxes, business would have more money / hire new employees Reagan combined both / Critics called it Reaganomics or “Trickle Down” economics
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Government Programs Government programs cut = e.g. welfare, food stamps, lunch programs, medicare, student loans, housing subsidies, and unemployment benefits
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Deregulation of Industry Govt regulations burden on economy Eliminated Price Controls on oil & gas thought prices would drive up Prices plummeted, business/consumer had money to spend elsewhere
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Other Deregulations Deregulation - took price controls off companies Airline Business - Cable Television Led to competition amongst companies / fight for customers
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Booming Economy By 1984 - U.S. had largest economic expansion in history Homes climbed 15% in value 5 Million new businesses in U.S. 20 million new jobs
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Judicial Balance Wanted Conservative Justice Reagan nominated Sandra Day O’Connor 1st Woman on Supreme Court
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1984 Election Ronald Reagan v. Walter Mondale (v.p. Geraldine Ferraro) Just stressed economy Reagan won 59% of popular vote - Won ALL of the electoral votes
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Reagan Builds Military Reagan adopted a new “Cold War” policy He rejected Containment & Detente policies Reagan felt the Soviet Union was an “Evil Empire” and the U.S. should not “Negotiate” with them but “Defeat Them”
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Reagan - Peace Through Strength Reagan’s philosophy for dealing with the Soviet Union “Peace Through Strength” Reagan began a military buildup and spent over $1.5 Trillion in 5 yrs Reagan believed Soviets could not keep up with U.S. build up If the Soviets tried, it would cause the Soviet economy to collapse Reagans defense spending went from $80 billion to over $200 Billion yr
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Questions???
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Assignment: Outline remainder of chapter: Reagan Builds Up the Military The Reagan Doctrine Approaches to Arms Control Using notes and outline, write a one page essay of Chapter 20 - Section 2 “The Reagan Years”
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