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| 6753067563 | Supply-side economics | Sometimes called reaganomics, the theory of supply-side economics rests on the assumption of that if taxes are reduced, people will work more and have more to spend, causing economic growth. The government will then collect more in taxes. | 0 | |
| 6753097819 | Economic Recovery Act of 1981 | This reduced taxes by 25 percent over three years. Rich americans received the largest tax cuts. Reagan said that the wealthy would use the money they saved to invest in new businesses. Reagan convinced the congress to cut 40 billion dollars from the federal budget, mostly by cutting spending for social programs. | 1 | |
| 6753159027 | Deregulation | Along with cutting taxes, reagan also reduced the government's role in the economy by calling for deregulation, the removal of government control over industry. By the mid 1980s, the congress had regulated airlines, telecommunications, and banking industries. | 2 | |
| 6753186926 | Even with reagan's economic policies, the economy experienced a | recession from 1980 to 1982. Unemployment rose to more than 10 percent in 1982. This hit blue collar workers particularly hard. Farmers lost their farms due to oversea competition. Policies that Paul Volcker, as the head of the federal reserve board, had introduced to tame the great inflation of the 70s contributed to the recession in the early 80s. | 3 | |
| 6753233041 | In the beginning of early 1983 | The economy began to turn around. Inflation fell dramatically, the gross national product or the annual income by americans and american businesses expanded at a healthy pace. Despite this, the number of poor people, including the working poor, increased. Immigrants from latin america and asia continued to pour into the united states. More than 7.3 million legeal immigrants and hundreds of thousands of undocumented immigrants entered. These people had low paying jobs while the rich continued to get richer. | 4 | |
| 6753271968 | Budget deficit | Reagan increased defense spending but failed to win huge cuts in the government spending in other areas. This caused the federal budget deficit or the shortfall between the amount of money spent and the amount taken in by the government rose from 79 billion dollars in 1981 to 221 billion dollars in 1986. | 5 | |
| 6753294831 | National Debt | The amount of money the federal government owes to owners of government bonds rose to 2.5 trillion dollars. | 6 | |
| 6753309749 | Gramm-Rudman-Hollings Act in 1985 | In response to the persistent budget deficits, the congress passed the gramm reduman hollings act in 1985 to sought to balance the budget by 1990 by requiring automatic cuts in federal spending if the deficit exceeded a certain amount. However, the budget set new records into the early 1990s. | 7 | |
| 6753331595 | The Savings and Loan, or S&L crisis | In the late 80s, about 1,000 savings and loan banks failed, some because of fraudulent behavior and others because they made too many risky loans. Critics blamed reagan's deregulation policies for encouraging banks to invest in riskier propositions. To prevent more panic, the federal government spent upwards 200 billion dollars to bail out depositors at the failed banks. | 8 | |
| 6753366092 | Despite budget and debt problems | the economic recovery improved the national mood and helped ronald reagan's popularity Reagan used his time in office to strengthen the conservative cause. | 9 | |
| 6753387248 | Reagan Wins Reelection in 1984 | During the 1984 presidential campaign, reagan used the phrase "it is morning in America" as a campaign slogan. This theme dovetailed nicely with regan's upbeat personaity which he displayed even in his darkest moments. On March 30th, 1981, a disturbed man named John Hinckley Jr., tried to assassinate the president. One bullet from his gun lodged in Reagan's chest.Americans voted overwhelmingly to reelect Reagan in 1984. | 10 | |
| 6753438752 | During the two terms, regan appointes judges he hoped would | reverse the liberal drift of the federal courts. The three judges were Sandra Day O'Connor, Antonin Scalia, and Anthony Kennedy. Elevated william rehnquist, a well known conservative to the position of chief justice in 1986. | 11 | |
| 6753485131 | Sandra Day O'Connor | Was nominated in 1981 and was the first female justice and a moderate conservative. Although she voted with other conservatives on many issues, she consistently voted to uphold Roe v. Wade, which reagan opposed. | 12 | |
| 6753514010 | Equal Access Act | Near the end of reagans first term, the congress passed the equal access act that required public secondary schools to allow any group equal access to school facilities. Conservative christian groups supported the act's passage because many schools did not allow religious groups to meet on school property. | 13 | |
| 6753542549 | Board of Education of Westside Community Schools v. Mergens | The supreme court confirmed the constitutionality of the equal rights access act in 1990. | 14 | |
| 6753566586 | George H.W. Bush Becomes President | Reagan used his personal popularity to promote george bush, his vice president for eight years as bush campaigned for president against Michael Dukakis, a massachusetts governor in 1988. | 15 | |
| 6753582524 | Bushed called for | a kinder, gentler nation but both candidates attacked each other using negative campaign ads. | 16 | |
| 6753597505 | Bush cemented his support among conservatives | by promising not to raise taxes and casting himself as a defender of traditional values. However, democrats won a majority of seats in both houses of congress. | 17 | |
| 6753607564 | Bush sought to control federal spending | by encouraging americans to volunteer. Government, he asserted, could take a smaller role in daily life if "like a thousand points of light," community organizations and volunteers provided more help to the disabled, illiterate and the poor. | 18 | |
| 6753635152 | Despite Reagan and Bush's success, the nation continued to face a number of pressing problems. | In 1981, thousands of air traffic controllers went on strike. Reagan refused to negotiate with the professional air traffic controllers organization (PATCO) and fired them because they violated a law forbidding federal workers to go on strike. Many americans admired his strong decisive stance and some union supporters claimed that his actions represented an assault on the labor movement. | 19 | |
| 6753687376 | Rising cost of social security | As the number of elderly people grew, the social security system began to collect less money than it paid out. | 20 | |
| 6753714605 | Social security reform act | this was passed by reagan and raised the minimum of retirement age and increased payroll taxes for social security. It was a temporary fix and did not solve long term problems | 21 | |
| 6753734650 | Public education | in 1983, the department of education issued a nation at risk. The study showed that students were consistently scoring lower on standardized tests as time passed. the report argued that america's schools failed to prepare students to compete with students around the globe. | 22 | |
| 6753760982 | Vouchers | conservatives called for providing vouchers or government checks that could be used by parents to tuition at private schools. they argued that vouchers would force public schools to improve in order to attract and retain more students. Liberals in congress argued that vouchers wold take much needed money away from public schools | 23 | |
| 6753786233 | AIDS | Acquired Immunodeficiency Syndrome first appeared in 1981. it is the last stage of HIV (human immunodeficiency virus) which attacks the immune system of its victims. There is no cure. at first, aids spread mainly among homosexual men and intravenous drug users. Later on, the virus infected different groups of people. by 1994, had killed more than 250,000 americans. Reagan responded slowly to the epidemic, Bush funding for research on the disease rose. | 24 |
