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Explain Reaganomics and its goal to improve America’s economic troubles of the early 1980’s.  Was it successful?

Ronald Reagan announced a recipe to deal with the nations economic mess during the campaign of 1980. He claimed an undue tax burden, excessive government regulation, and massive social spending programs has hampered growth. He proposed a phased 30 percent tax cut for the first 3 years of his Presidency. The bulk of the cut would be concentrated at the upper income levels. The economic theory behind the wisdom of thus plan was called “supply side”, or “trickle down economics”. Tax relief for the rich people would allow them to spend and invest more. The new spending would stimulate the economy and make new jobs. Raegan believed that a tax cut of this nature would generate even more revenue for the federal government but Congress didn’t seem to be as sure as him, but they did approve a 25 percent cut during his first term. The ending results of this plan were mixed. First the Federal Reserve Board believed the tax cut would re ignite inflation and raise interest rates and this sparked a deep recession in 1981 and 1982. The higher rate of interest caused the value of the dollar to rise making goods more expensive. As a result exports decreased while imports increased. Eventually, the economy stabilized in 1983 and the remaining years of Reagan’s administration showed national growth. The national debt tripled from now to three million trillion dollars during the Reagan Years. The President and conservatives in Congress cried for a balanced budget amendment, but neither branch had the discipline to propose or enact a balanced budget. The growth Americans enjoyed during the 1980s came at a huge price for the generations to follow ahead. 

Summarize President Reagan’s role in the Cold War and the collapse of the Soviet Union.  Be sure to include the following:


Peace Through Strength

Before Ronald Reagan became President he set out the tone for relations with the Soviet Union by labeling the USSR as “Evil Empire”. Communism appeared to be spreading around the world with Soviet troops in Afghanistan and Nicaragua which was led by Soviet backed Sandinista government. Communist guerillas threatened to take over in neighboring El Salvador. Cuban backed troops waged a successful insurgencey in Angola. The age of détente was over. Reagan hopes he could negotiate with the Soviet Union but believed that he could only get concessions if dealing from a position of superiority. Increasing military spending forced similar increase on the part of the Soviet rivals, through a policy Raegan called “Peace Through Strength”


Reagan Doctrine

When leadership of the USSR was assumes by Mikhail Gorbachev in 1985, Raegan belied that it was now time to act. The 2 leaders decided in principle to an intermediate Nuclear Forces treaty in 1987, which for the first time ever got rid off an entire class of already existing nuclear weapons. Raegan was determined to vanquish the specter of Vietnam he believed the U.S. couldn’t afford to sir passively while communism expanded aggressively. He announced the Raegan Doctrine which pledged American support to “Freedom Fighter” opposing Communism anywhere. 


End of the Cold War
Mikhail Gorbachev assumes the reins of power in the Soviet Union in 1985 and no one assumes or saw for the future that the revolution he would bring was big. He was a dedicated reformers and introduced policies of glasnost and perestroika to the USSR. Glasnost meant a greater willingness on the part of Soviet officials to allow western ideas and goods into the USSR. Perestroika also known as “restructuring” was an initiative that allowed limited market incentives to Soviet citizens. Gorbachev hopes changes would be done to spark the sluggish Soviet economy. However, freedom is addictive. When unraveling of Soviet Bloc began in 1989 when polish voters elected a non communist opposition government to their legislature. The world expected Soviet tanks to roll into Poland preventing the new government from taking power but Gorbachev refused to act. Eastern Europe communism dictatorship fell one by one and by the fall of 1989 East and West Germans were tearing down the Berlin Wall with pickaxes. Demands for freedom soon spread to Soviet Unions all the Baltic States wanted Independence. Here is when Gorbachev wishes to draw a line. Self determination for Eastern Europe was one thing, but he intended to maintain the territorial integrity of the Soviet Union. In December 1991, Ukraine, Byelorussia, and Russia itself declared independence and the Soviet Union was dissolved. Gorbachev was a president without a country.
Americans hoped against hope that the new world order of the 1990s would be marked with the security and prosperity to which at least some had become accustomed.


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