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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 ...
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).
Reagan referred to the "genocide of the Armenians" in a 1981 statement commemorating the liberation of the Nazi death camps. [187] Reagan was the first U.S. president to personally use the term "genocide" to reference the systematic eradication of the Armenian people at the hands of the Ottoman Empire between 1915 and 1923. [188]
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 ...
[4] [5] A presidential notice or a presidential sequestration order can also be issued. [6] [7] National security directives 1 operate like executive orders, but are only in the area of national security. They have been issued by different presidents under various names. [8]
The Reagan era or the Age of Reagan is a periodization of recent American history used by historians and political observers to emphasize that the conservative "Reagan Revolution" led by President Ronald Reagan in domestic and foreign policy had a lasting impact. It overlaps with what political scientists call the Sixth Party System ...
Four Pillars of Nepal Bhasa, four people who campaign to revive the language and literature; Four Pillars of Transnistria, basis of the declaration of independence of a separatist region in Moldova in Eastern Europe; Four pillars, Vietnamese term for the four most important people in the government; The four pillars of green politics; The four ...
Ronald Reagan's economic policies, dubbed "Reaganomics" by opponents, included large tax cuts and were characterized as trickle-down economics. In this picture, he is outlining his plan for the Economic Recovery Tax Act of 1981 from the Oval Office in a televised address, July 1981.