Ronald Reagan

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Ronald Reagan
Ronald Reagan was the 40th president of the United States. Ronald Reagan lost the republican nomination to Gerald Ford in 1976. Reagan won the 1980 nomination and chose George H. W. Bush. Reagan and Bush ran against Jimmy Carter and Walter Mondale. He was so great people began to ask if there was enough room for another face on Mount Rushmore.
In 1985, the Iran-Contra Affair supplied weapons to a sworn enemy. The transactions that took place in the Iran-Contra Scandal were contrary to the legislation of the Democratic-dominated Congress and contrary to official Reagan administration policy. In 1985 Iran and Iraq were at war, Iran made a secret request to buy weapons from the United States. The scandal was almost the undoing of the Teflon President. Despite the damage to Reagan’s image, the president got off very easily.
President Reagan came to the White House promising a major shift to conservative economic policies. His program included a supply-side revolution, a scaling down of wasteful government activity, lower taxes and less interference with the market economy. As a result, it was expected, the US economy would become more efficient, with faster growth and minimal inflation. Tax reductions would pay for themselves so that the budget would soon return to balance. Financial expansion did help bring down unemployment, but the administration soon learned that tax cuts led to trade and budget deficits. Though early dreams remain unfulfilled, the Reagan period represents a turning point in US economic policy making. More importantly, there are signs that Reagan has won his political bet, early tax cuts generated budget deficits which exerted the pressure required to turn the tide of rising government spending, and change its composition. The verdict on supply-side policies was not yet clear. Two major tax reforms have profoundly modified the…...

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