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The Reagan Revolution

The Reagan Revolution. History 17B Lecture 20. How should we interpret the 1980s? Reagan led a conservative revolution to roll-back New Deal/Great Society legacy. Positive or Negative effects?. My argument:

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The Reagan Revolution

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  1. The Reagan Revolution History 17B Lecture 20

  2. How should we interpret the 1980s? Reagan led a conservative revolution to roll-back New Deal/Great Society legacy. Positive or Negative effects? My argument: Reagan mostly achieved goals, but at great social and economic cost to women, poor, and minorities. Left U.S. economically and socially divided. A Conservative Revolution

  3. Early Years Grew up poor in Dixon, IL Held onto small town values his whole life. Hollywood “B” Actor President of Screen Actor’s Guild FBI Informant Spokesman for General Electric Preached small government, traditional values, and anticommunism. Governor of California 1966-1974 Reagan: The Man, the Myth

  4. Goals: weaken big government, increase defense spending, reassert American world dominance. Early Years Elected President in 1980 Told Americans: “Government is not the solution. Government is the problem.” Reagan: The Man, the Myth

  5. The Acting President Understood the constant “entertainment culture” of the 1980s The “Great Communicator” Performance over substance. Master of imagery and a superb speaker. Used personal reflections and symbols to persuade. Assassination attempt (March 31, 1981) A political plus for Reagan. Reagan: The Man, the Myth

  6. Conservative Social Agenda Sought a return to “traditional values” circa 1950s. Goal: make government smaller through spending cuts in: Environment, consumer, protection, poverty programs, education, transportation. Reagan appointed conservative judges to help dismantle Warren/Burger courts legacy piece by piece. The Reagan Revolution

  7. The Reagan Revolution • Environmental Policies • Corporations/ranchers vs. environmentalists • Logging/mining/grazing vs. scenic/recreational use. • Reagan sided with corporations and ranchers • Paid fees below market value. • Reagan appointees openly hostile to environmentalists. • But not reflective of mainstream view which was pro-environment.

  8. Ideological Underpinnings A conservative ideological devotion to free markets, smaller government, and individual responsibility (circa 19th century). Liberal Critics Reagan agenda unrealistic for complex social/economic problems of 20th century. Federal government needs to take a role. The Reagan Revolution

  9. The Reagan Revolution • Reaganomics • Top tax rate reduced from 70% to 28% • Supply-side economics • Theory that if you cut taxes, Americans will invest more and tax revenues will increase (NOT!) • Annual Budget deficit reached $220 billion a year in 1986. • $1.8 trillion added to National Debt

  10. The Decade of Greed Reagan’s economic policies reflected mood of country in 1980s. Stock market was overvalued and personal debt increased. Corporate tycoons were the American heroes Michael Milken, Leona Helmsly, and Ivan Boesky The Material Girl in a Material World The Reagan Revolution Ivan Boesky Material Girl

  11. Morning in America Deep recession in 1981-82, but economy steamed ahead as inflation declined. Inflation went from 12.4% in 1980 to 4% in 1982. 1984 Election Reagan won a 49 state victory against Democrats Walter Mondale and Geraldine Ferraro (first woman VP for a major party). The Reagan Revolution

  12. A “Hidden-Hand Presidency?” Reagan called “out of touch” and lost without a script. A Detached Presidency A lack of leadership at the top. Uninterested in minutia of policy Delegated authority. Administration’s second term nearly brought down by Iran-Contra Scandal in 1986. Reagan’s Style of Leadership Oliver North testifies to Congress.

  13. A Stratified Society Top 1% received 60% of after-tax income. Top 1% controlled 39% of nation’s wealth in 1989. (15% for bottom 80%) 20 million jobs created, but most were non-unionized low wage service sector jobs. The Revolution’s Impact

  14. Economic Consequences to Poor Minimum wage was poverty wage. 24% increase in homelessness (1979-1987) 20% of children (and 50% of Black children) lived in poverty. Reagan not solely responsible, but his policies contribute greatly to a stratified society between “haves” and “have-nots.” The Revolution’s Impact

  15. Reagan could look back in 1989 with satisfaction: Growing economy. Conservative judiciary. Even an advantage to spiraling deficit Americans had to rely on other sources for assistance besides federal government. But could the Revolution continue under George Bush without Ronald Reagan? Final Thoughts

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