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Ronald Reagan Economic Policy Essay

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Ronald Reagan Ronald Reagan was 40th U.S. President, serving two terms from 1981-1989. As president, Reagan cut taxes, increased tax revenues, lowered inflation and unemployment percentages, and built up the U.S. military. He brought the United States out of recession and fixed the mistakes of previous presidents. President Reagan supported and sent supplies to those defending against Communists as part of his “Reagan Doctrine”. Reagan was known for his “Reaganomics”, his policies based on supply-side economics or trickle-down theory. This was his belief on how to fix the nation’s economic disasters. Reaganomics had the idea that if there was a cut in taxes, particularly corporation taxes, economic development would increase. It would …show more content…

This reduction of regulation of the economy began under President Jimmy Carter, and Reagan wished to continue with this and the management of prices for natural gas, oil, long distance phone services, and cable television. The assessment of the outcome was mixed. The Federal Reserve Board has the idea the cut in taxes would revive inflation and have an increase in interest rates. In 1981 and 1982, a recession formed from these ideas. The value of the dollar on the global trade market increased due to the above average interest rates, causing U.S. merchandise to become highly priced. Then in 1993, the stabilization of the economy …show more content…

He was very firm on avoiding Communist takeovers in the Western Hemisphere. This was demonstrated by his defensive actions when the Prime Minister Maurice Bishop of Grenada, a very small in size Caribbean island, was assassinated and a radical Marxist government took over. Later, Cuban troops came and conquered Grenada, and they began to construct an airfield that was able to receive and send off large military aircraft. Reagan decided something had to be done. The Reagan administration eradicated the Communists, killing or capturing 750 Cuban soldiers, and asserted a regime that was favorable towards America. This sent a strong message around the world that Reagan would not accept any communism in the Western

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