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The 1980’s

The 1980’s. Political. Reagan 69 -- oldest man elected president Former actor Very conservative. Less government Few taxes Less regulations on businesses. Iranian Hostages. Taken under Carter’s administration Failed rescue attempt Petrot got his men out….US government could not

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The 1980’s

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  1. The 1980’s

  2. Political • Reagan • 69 -- oldest man elected president • Former actor • Very conservative

  3. Less government • Few taxes • Less regulations on businesses

  4. Iranian Hostages • Taken under Carter’s administration • Failed rescue attempt • Petrot got his men out….US government could not • Released on Reagan’s inauguration day • Held 444 days

  5. Economics • Supply Side Economics • Reaganomics • Lower taxes • Would increase government revenue • Would stimulate the economy • Invest and spend the extra money

  6. Deficit • Reagan added 2 trillion to the deficit • Money spent on military • Social programs cut • Undo the New Deal • Undo the Fair Deal

  7. Classes • Tax cuts • Estate tax • Tax free saving plans for small investors

  8. Social • Rich got richer • Poor got poorer • Middle class income stalled

  9. Yuppies and DINKS • Yuppies • Young • Urban • Professional • DINKS • Double • Income • No • Kids

  10. Material Values • Rolex • BMW • The look

  11. Foreign Affairs • Star Wars • Strategic Defense Initiative • Emphasized defensive rather than offensive • Would pass congress that way

  12. Iran Contra • Problems in Central America • Nicaragua Sandinista regime • Anti American • Congress would not fund money to fight them • Americans taken hostage in Middle East

  13. Iran wanted arms • Offered to help get hostages back • Oliver North used money from arms sell to Iran to give to Contra to fight Sandinista

  14. Legal • Impeachment charges???? • “I don’t recall” • North convicted • Won on appeal

  15. Reagan’s Legacy • Stronger military • Huge deficit • Savings and loans closed • Median household income dropped • $33,500 to $31,000

  16. Abortions • Planned parenthood v Casey 1992 • Parents had to be informed if daughter got an abortions

  17. George Bush • Reagan vice president • Distanced himself from Iran Contra

  18. Cold War Ended • Berlin Wall came down • USSR broke up • Yugoslavia broke up

  19. Better or Worse • We had agreements with USSR • Who had the nuclear weapons now? • What would they do with them? • Who do we negotiate with now?

  20. Eco • Bush got blamed for most of Reaganomics

  21. Desert Storm • Iraq invaded Kuwait • We helped Kuwait • War with Iraq • Swift victory…except

  22. Eco • “No new taxes” • Ruined him

  23. Clinton • During campaign rumors of womanizing • Campaign • Anticrime • Progrowth • Strong defense

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