The Reagan Years.

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Presentation transcript:

The Reagan Years

Supporters of Reagan Election of 1980 Opponents of the status quo Anti-communist conservatives Christian conservatives “Reagan Democrats” “Neo-conservatives”

The Election of 1980

The New Conservative Coalition The NEW RIGHT The NEW RIGHT - a political coalition of: Conservative evangelical Christians Moral Majority founded by Rev. Jerry Falwell - Baptist minister (founder - Liberty University - Lynchburg, VA) To restore Christian Values in America Southern Democrats Reduction of Social Programs Called for reduction in size and scope of government “Reagan Democrats” Favored return of US military prominence Patriotic focus

“Reaganomics” Too much government is the problem Cut domestic programs Increased defense spending Cut personal income taxes Would: promote and create new jobs encourage capital investment, and lead to stimulated industrial growth Critics called it “voodoo economics”

Economic Recovery Tax Act Cut taxes in a way that favored the wealthy Three-year rate reduction Did not trickle down as promised Changed the distribution of wealth Shrinking middle class Decline in home-ownership Cuts in the federal budget accompanied tax cuts

Impacts of Reaganomics Deregulation of business Environment: “Sagebrush rebellion” Decreased government control in many areas Huge increase in the national debt US became the largest debtor nation Response included cutting programs that benefited the poor. Increased number of corporate takeovers

Reagan and Military Buildup Sharp increase in military spending = buildup New weapons and new technology Neoconservatives (Neo-cons = Dick Cheney, Don Rumsfeld, Condoleeza Rice, Colin Powell, etc.) Strategic Defense Initiative (SDI) = better known as Star Wars

Foreign Policy Reagan and the Cold War Reagan Doctrine Nicaragua Grenada Evil Empire Gorbachev Missile build-up SDI

Iran Contra Affair/The Teflon President Arms for hostages deal Sold arms to Iran in exchange for their help Funneled the profits from the sale to the Contra rebels Congressional hearings to uncover the policy Oliver North was fired for his involvement Reagan was never linked to the events