Search results
Results from the WOW.Com Content Network
Trickle-down economics is a pejorative term for government economic policies deemed to disproportionately favor the upper tier of the economic spectrum (wealthy individuals and large corporations) under the belief that this will eventually benefit the economy as a whole.
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.
The national debt as a percentage of GDP increased by 62% from 30.9% in 1981 when Reagan took office to 49.9% when he left. [11] Median real wages dropped by 0.6% by 1990, as compared with 1980. [12] However, Reagan's term was from 1981 to 1989.
That didn’t happen during the final two years of Reagan’s first term — in fact, it was quite the opposite. The U.S. economy grew by 4.6% in 1983 and another 7.2% in 1984.
[6] [16] [17] Real GDP growth recovered throughout Reagan's term, averaging +3.5% per year, with a high of +7.3% in 1984. [18] The average annual GDP growth during Reagan's presidency was the fifth highest since the Great Depression and the highest of any Republican president.
The president was fighting for a second term on multiple fronts, fending off a Democratic primary challenge from Sen. Ted Kennedy while also campaigning against Republican opponent Ronald Reagan ...
Reagan and his allies, including his vice president George H. W. Bush, would strongly deny involvement in any efforts to delay return of the hostages as rumors and accusations cropped up over the ...
He was an advisor to California governor Ronald Reagan and was active in Reagan's presidential campaigns. [146] He served as a member of President Reagan's Economic Policy Advisory Board starting in 1981. In 1988, he received the Presidential Medal of Freedom and the National Medal of Science. [147]