How Did Reaganomics Affect The American Economy

“If we ever forget that we are One Nation Under God, then we will be a nation gone under.” These are the famous words of one president who went above and beyond his presidential duties which helped sculpt America into the country it is today. America is the land of the free and the home of the brave, and this president kept this promise to his nation and his people. He helped relieve the countries involved in the Cold War, went head to head with another world superpower; the USSR in the advancement of technology and witnessing what is beyond our world, and created millions of new jobs for American citizens due to Reaganomics. greatly benefited the people of America and even people around the world during his presidency in a variety of different

Reagan instituted a new economic plan known as ‘Reaganomics’ that would pull America’s economy out of the dumps and would drastically improve the American economy and lower unemployment rates. Reaganomics was put into effect in 1981 where the four leading policy objectives would reduce the overall government spending, lower tax rates, minimize regulation, and reduce the economy’s inflammation. Slowly but surely taxes began to cut nearly in half, government spendings were also reduced and the country’s inflammation lessened. By sticking to this new plan, Reagan was able to drastically reduce the amount of unemployment rates down to about 9.7% which gave steady jobs to about 16 million Americans at the end of his presidency. This new economic plan rescued America’s economy and made it much more financially stable for the American people. In addition, Reagan passed the Tax Reform Act which overall aided in the economic growth of the US. America’s economy was recovered by Reagan and the measures he took to save it. Reaganomics was key to saving the economy and Reagan was able to promptly put it into action, preserving the American economy during his

Soon after the Cold War came to an end, the United States and the USSR both began military technological advancements. If the USSR could get missiles into space, they could set them off at anyone anywhere. In the interest of protecting America and possibly the rest of the world, the main objective for the Space Race was to protect us against missiles from the USSR military. These advancements led to a competition between the US and the USSR to see who would be the first to space. America and the USSR were two of the most powerful countries in the entire world at that point in time. As a result, both countries were constantly in fear of one another because each had the power and resources to destroy the other. If America could get to space first, it would mean we had a huge advantage over the USSR. Reagan put forth the ‘Space Defense Initiative’ which would protect us from the USSR space missiles (The History Rat, “Ronald Reagan and the Space Defense Initiative). Unfortunately, the USSR made it to space before us, but America was not far behind. For some Space Wars are viewed as a failure compared to the USSR, but for Reagan and most Americans, they view Space Wars as a success and a huge accomplishment for our country as a whole. The INF Treaty between the US and the USSR and even the destruction of the Berlin Wall were two big steps forward for America. Reagan was a