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Milton Friedman, the monetarist economist who was an intellectual architect of free-market policies, was a primary influence on Reagan. [4] When Reagan took office, the country faced the highest rate of inflation since 1947 (average annual rate of 13.5% in 1980), and interest rates as high as 13% (the Fed funds rate in December 1980).
The pillars of Reagan's economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation. [7] The results of Reaganomics are still ...
Uploaded a work by President Ronald Reagan and various United States Government employees from National Archives - Ronald Reagan Library with UploadWizard File usage No pages on the English Wikipedia use this file (pages on other projects are not listed).
“A lot of people look back to Reagan’s days as a time when country was thriving,” said Chester Pach, a history professor at Ohio University with a book in the works on Reagan’s presidency.
Reagan was first elected in 1980, when the U.S. gross domestic product fell 0.3%, according to data from the World Bank. During his first year in office (1981) the GDP grew 2.5%, but during his ...
Listed below are executive orders numbered 12287-12667, signed by United States President Ronald Reagan (1981–1989). He signed 381 executive orders. [9] His executive orders are also listed on Wikisource, along with his presidential proclamations, national security decision directives and national security study directives. Signature of ...
Reagan described the new debt as the "greatest disappointment" of his presidency. [39] Reagan's economic tax plans had early been labeled "voodoo economics" and "trickle down economics", both terms of which have propelled far into the US political discourse since, and are still used today alongside Reagan's name.
Maybe Jimmy Carter was not such a bad president. Today’s inflation rate of 8.5% doesn’t come close to the real figure, my friend said. He's right.