The economic policies of Ronald Reagan became knows as Reaganomics. Reaganomics was composed of three key elements. His first policy was to cut taxes by 25% over a three-year period. His argument was that these tax cuts would create new investment while increasing federal revenues, which would "trickle down" to the lower classes by creating more jobs. This reasoning was known as the supply-side economics. The second component of Reaganomics was to cut social programs, like welfare, food stamps, and unemployment compensation. To avoid backlash, he purposely did not cut Social Security or Medicare. And finally, the third component was to increase military spending to $1.2 trillion over a five-year period. Reagan strongly believed that the increase
…show more content…
His deregulation of the airline industry would lead to strikes by air-traffic controllers. while his deregulation of savings and loan institutions led to a giant scandal as these institutions no longer had to be responsible for how they loaned money. By loosening regulations on air pollution and motor vehicles, corporations continued to pollute the air as car manufacturers delayed installing airbags in …show more content…
As American cities continued to decay economically due to the growth of suburbs, they became filled with violence and drugs. Crimes committed in inner cities would have harsher penalties causing the prison population to explode as crack cocaine emerged on the scene. Reagan's solution was to build more prisons and address the drug epidemic through national ad campaigns like "Just Say No" which was spearheaded by Nancy Reagan. The New Right movement would increase its political leverage as its supporters believed that America was no longer living up to its Christian principles that it was founded on. Reagan implied support for the New Right movement would give the movement the influence that it needed. As the AIDS crisis began to rise in the U.S., lawmakers were slow to respond to find a solution for fear they would face political consequences.Reagan would even order the Surgeon General to refrain from speaking about the epidemic publicly while limiting funds for research and aid to those infected with the
His deregulation of the airline industry would lead to strikes by air-traffic controllers. while his deregulation of savings and loan institutions led to a giant scandal as these institutions no longer had to be responsible for how they loaned money. By loosening regulations on air pollution and motor vehicles, corporations continued to pollute the air as car manufacturers delayed installing airbags in …show more content…
As American cities continued to decay economically due to the growth of suburbs, they became filled with violence and drugs. Crimes committed in inner cities would have harsher penalties causing the prison population to explode as crack cocaine emerged on the scene. Reagan's solution was to build more prisons and address the drug epidemic through national ad campaigns like "Just Say No" which was spearheaded by Nancy Reagan. The New Right movement would increase its political leverage as its supporters believed that America was no longer living up to its Christian principles that it was founded on. Reagan implied support for the New Right movement would give the movement the influence that it needed. As the AIDS crisis began to rise in the U.S., lawmakers were slow to respond to find a solution for fear they would face political consequences.Reagan would even order the Surgeon General to refrain from speaking about the epidemic publicly while limiting funds for research and aid to those infected with the