1. The “Reagan Revolution”

2. The Charismatic President

3. BUT… Reagan - Domestic Deregulation
“Supply-Side” Economics (“Reaganomics”)
Deregulation
Economy did begin to recover because of several reasons
Money policies of the Federal Reserve Board helped lower inflation
Weakening strength of OPEC
Consumer spending & Investment increased
BUT…
National Debt was growing rapidly…WHY?
Entitlement Programs (S.S. & Medicare)
Reagan Tax Cuts (largest in U.S. history)
Massive increase in military spending

4. Ronald Reagan Evil Empire Speech
Reagan - Foreign
Ronald Reagan Evil Empire Speech
REAGAN DOCTRINE
The U.S. would support opponents of communism anywhere in the world even if the regimes they were challenging had no ties to the Soviet Union (example  Grenada)
COLD
WARS
Not such a long time ago in a country not far away at all…
SDI: Strategic Defense Initiative

6. America and the Waning of the Cold War

7. The Fall of the Soviet Union
Berlin Wall comes down; every communist state in Europe overthrows its gov’t or forces change
Mikhail Gorbachev becomes leader of the Soviet Union
1987
1991
1985
1989
The Soviet Union officially dissolves
“Tear Down This Wall” Speech

8. The Fading of the Reagan Revolution
Savings and Loan Crisis
Iran-Contra Scandal

9. George H. Bush DOMESTIC FOREIGN Won the election of 1988 Faced a huge
federal deficit
In campaign – “Read my lips, no new taxes”
Won the election of 1988
DOMESTIC
FOREIGN
Tax hikes violated
campaign promise
The U.S. was the only superpower left in the world
Faced a recession in 1990
First Gulf War following Iraq’s invasion of neighboring Kuwait

10. “It’s the economy, stupid”
The Election of 1992
Bill Clinton (D) Wins
“It’s the economy, stupid”