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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 ...
The term itself is used mostly by critics of the concept. The Merriam-Webster Dictionary notes that the first known use of "trickle-down" as an adjective meaning "relating to or working on the principle of trickle-down theory" was in 1944, [11] while the first known use of "trickle-down theory" was in 1954. [12]
Notable events included his firing of nearly 12,000 striking air traffic control workers and appointing the first woman to the Supreme Court bench, Sandra Day O'Connor. He believed in federalism and free markets , passed policies to encourage development of private business , and routinely criticized and defunded the public sector .
As previously reported by GOBankingRates, Bidenomics has generally outperformed Reaganomics in terms of GDP growth and unemployment (so far), while Reaganomics holds the edge in terms of inflation ...
Ronald Wilson Reagan [a] (February 6, 1911 – June 5, 2004) was an American politician and actor who served as the 40th president of the United States from 1981 to 1989. He was a member of the Republican Party and became an important figure in the American conservative movement.
Niskanen was born and raised in Bend, Oregon.He received his B.A. from Harvard University in 1954. He pursued graduate study of economics at the University of Chicago, where his teachers included Milton Friedman and other prominent economists who were then revolutionizing economics, public policy, and law with ideas that would come to be known as the Chicago school of economics.
New York City barely averted bankruptcy in 1975; it was rescued using state and federal money, along with strict state control of its budget. [5] [6] Meanwhile, conservatives, based in the suburbs, the rural areas, and the Sunbelt railed against what they identified as the failures of liberal social programs, as well as their enormous expenses.
Donald Thomas Regan [a] (December 21, 1918 – June 10, 2003) was an American government official and business executive who was the 66th United States Secretary of the Treasury from 1981 to 1985 and the White House Chief of Staff from 1985 to 1987 under Ronald Reagan.