The Economic Causes Of The Reagan Revolution

2176 Words9 Pages
Abbi Pitts Dr. Emily Hess HIST 359 September 17, 2014 Reagan Revolution During the 1970s scandalous events like Watergate, the Iranian hostage crisis and defeat in South Vietnam and a drastic decline in American industry caused a tremendous loss of confidence amongst the American people. The nation seemed to be troubled by its loss of power and fall from grace on the world stage. It wasn’t until 1980 with the inauguration of President Ronald Reagan that the American Spirit was lifted. During his presidency the United States saw great growth in Industry, defense, also great tax cuts and cuts in the federal budget and government funded programs. With the election of Reagan great changes were brought about and America was able to move past the misfortune that struck the 1970s. This time of great prosperity is known as the Reagan Revolution a term used to describe his two terms in office. The economic situation of the 1970.s was not a glorious one. The nation was suffering from a combination of high unemployment and high inflation. In his address to the nation on July 15th 1979 President Carter said that the American people are to blame. That the nation was consuming more energy then it was producing at the time. Carter also pointed out that America was too dependent on foreign oil. Carter claimed that if the nation continued I its self-indulgent was the worst of our economic situation was yet to come. Carter wanted to create legislation that would limit the use of energy and

More about The Economic Causes Of The Reagan Revolution

Open Document