The Economic Missteps of Ronald Reagan A President's Miscalculations

Ronald Reagan aimed to reduce government size and influence. He believed in cutting taxes, spending, and regulations to give more power to states. His opponents contend that Reagan's poor policies, such as bloating the national defense, drastically cutting social services, and making ... The Reagan administration slashed the priime interest rate by more than half, from an unprecedented 21.5% in January 1981 to 10% in August 1988. This ... 13, 1981, Ronald Reagan signed the Economy Recovery Tax Act of 1981 into law. A key feature of the law was a phased-in 23-percent cut in ... or were hurt by the policies. Page 227. Chapter 21 +. Long-Term Growth. When Ronald Reagan became president in 1981, the American economy was in the midst of a ... When Jimmy Carter handed over the presidency to Ronald Reagan, the double-digit inflation he had presided over for three years hurt the poor most of all. Where those regulations were aimed at the greedy, they now penetrated to most Americans lives. Thus, Americans in some ways were displaced by 1980 from the ... It lead to destroyed businesses, families and lives. Later in the 1980s the reaganoids endorsed the conversion and looting of pension funds. He got his tax overhaul and the top marginal tax rate plunged to 50%. By the time he left office in 1988 it was down to 28%. It has not gotten ... John Dickerson discusses Ronald Reagan's policies and explains how those policies affected the government and economy.