Reagan Analyzed

Reagan Analyzed

Today one of the most common debates is how Ronald Reagan, the great savior and patron saint of the Republican Party is considered to be overrated. To help prove my case I will include the misconceptions that he have on the following topics; economic policies, principles of the new right and also his involvement on ending the Cold War. One of the major reason he is regarded as a great president is because of the security and safety he gave the United States during the Cold War. Which showed a sense of strength. Although this part is proven to be true, the reality still remain that Reagan years were plagued by recession, high unemployment, skyrocketing debt, wasteful spending, questionable and shady foreign policy, and an ignorance of domestic issues, specifically AIDS, education, and the environment.

Now to take a closer look at the economics during Reagan's presidency. The most common misconception is that Reagan saved our economy with his famous Reaganomics. These policies now known as by different political parties, the trickle-down economics are commonly associated with supply-side economics. Reagan's economic policy has four main points which were to reduce the growth of government spending, reduce the federal income tax, and capital gains tax, reduce government regulation, and control the money supply in order to reduce inflation.

Reagan took an American economist Milton Freidman alternative economic theory which he called monetarism because he believed in the main objective of growing the economy was not by government spending. As Reagan left office, the nation was experiencing its sixth consecutive year of economic prosperity. Although inflation dropped from 13.5% in 1980 to 5.1% in 1982, a severe recession set in, with unemployment exceeding 10% in October, 1982 for the first time in forty years. The "Reading Eagle" (2013) website, The administration modified its economic policy after two years by proposing selected tax increases and...