Reagan Analysis Paper

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Reagan Analysis Paper

Reagan Analysis Paper
Introduction
Ronald Wilson Reagan was the fortieth president of the United States. A two term president, he served from 1981-1989. President Reagan won a landslide victory over Jimmy Carter running on a political platform consisting of jump starting the economy and bringing inflation down. This was to be accomplished through lowering taxes and cutting government spending. Many people consider Reagan an outstanding president but this paper contends he was an overrated president. This is based on the management of three issues facing his presidency. These are: economic policies, ending the Cold War, and the Iran-Contra affair.
Economic Policies
Throughout Reagan’s campaign he assaulted the Carter administration’s free-spending (Moss & Thomas, 2013, pp-208-210). He made promises to cut spending, but ultimately spent more. The most common misconception is that Reagan saved our economy with his famous Reaganomics. This of course included the modern trickle-down theory or supply-side economics, which included major tax decreases, specifically on the wealthy. These tax decreases, coupled with high military spending, created a massive debt and led the country into one of the worst depressions since the Great Depression. When Reagan entered the presidency in 1981 the national debt was at $900 billion. By the time he left it had over tripled to $2.8 trillion. To top it off, many of the military projects the money was used to create went unused or incomplete. One project that was deserted was the Star Wars program.
Skyrocketing debt was not the only problem. With recession obviously came unemployment. After the Reaganomics policies were put into place unemployment steadily and quickly grew until it peaked at 11%, one of the highest unemployment rates on record (Newport, Jones, & Saad, 2004). Also hit by…...

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