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Economic Report of the President: 1982

Economic Report of the President: 1982. Economic Trends 1960 to 1980. Productivity decreases Unemployment rate increases Inflation from 1.6% to 9% Interest rate increase Government Increased Role Regulation increase Money Supply increase. Economic Goals of Reagan.

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Economic Report of the President: 1982

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  1. Economic Report of the President: 1982

  2. Economic Trends 1960 to 1980 • Productivity decreases • Unemployment rate increases • Inflation from 1.6% to 9% • Interest rate increase • Government Increased Role • Regulation increase • Money Supply increase

  3. Economic Goals of Reagan • Reduce the Inflation rate • Federal Reserve reduced the rate of money growth • Followed by a decrease in interest rates • Increase Economic Growth • Increased employment, spending, saving, and investment • Reduced role of Federal Government and an enhanced role for State and Local Government

  4. Program for Economic Recovery 1981 • Cutting growth rate of Federal spending • Reducing personal income tax rates • Creating jobs by increasing the depreciation rate for business investment and equipment • In cooperation with the Federal Reserve, making a new commitment to monetary policy that will restore a stable currency and healthy financial markets

  5. New Tax Program • Encouraging people to work, save, and invest more • Income tax cuts for 3 years • Cutting top tax bracket from %70 to %50 • Tax cuts will put an end to making inflation profitable for federal government

  6. Regulatory Reform and Monetary Growth • By executive order all regulatory activity is subject to review by the Executive Office of the President • President Reagan’s support for a gradual and less volatile reduction in the growth of the money supply to decrease inflationary pressures

  7. Building for the Future • Policies enacted have substantially reduced inflation • Anti-inflationary policies have lowered the interest rates • Policies that are in place should lead to a vigorous economic recovery in 1982 • “The private sector works best when the Federal Government intervenes least”

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