1. The Reagan Presidency

2. The Election of 1980 The Election of 1980 –Ronald Reagan would be the Republican candidate in the election. –Jimmy Carter would be the Democratic candidate in the election. –Ronald Reagan would win the election with 489 electoral votes to Jimmy Carter’s 49 votes. –At age 69, Ronald Reagan would become the oldest man elected President.

4. Reagan’s Economic Policies Reagan’s Economic Policies –Reagan’s economic policies became known as Reaganomics. –Reagan would call for tax cuts, deregulating the economy, reduction in social program spending, and an increase in defense spending. –Reaganomics was designed to make Americans rely more on the private sector and less on government.

5. Reagan’s economic policies were based on supply-side economics. Reagan’s economic policies were based on supply-side economics.  encourage businesses to increase the supply of goods and services  Cut taxes  people will have more incentive to work, save, and invest

6. –In August 1981, Reagan would sign into law the largest tax cut in United States history. –Reagan would cut social service programs like food stamps, welfare benefits, job training, Medicaid, and school lunches. –Between 1981 and 1984, the budget for the defense department would double. –In 1983, Reagan would ask scientists to develop the Strategic defense initiative known as Star Wars.

7. The results of Reagan’s economic policies were mixed. The rate of inflation dropped from 14% in 1980 to 4% in 1988. The results of Reagan’s economic policies were mixed. The rate of inflation dropped from 14% in 1980 to 4% in 1988. However, the budget deficit and the national debt grew during this time. However, the budget deficit and the national debt grew during this time.