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Article: Reaganomics
- Article from:
- Dictionary of American History
- Author:
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REAGANOMICS
REAGANOMICS
denotes the economic policies of President Ronald Reagan in the 1980s. He sought to remedy the high inflation and recessions of the 1970s, which conservatives attributed to the heavy burden government imposed on private enterprise. Reagan called for sharp reductions in federal taxes, spending, and regulation as well as a monetary policy that strictly limited the growth of the money supply.
The administration implemented most of its program. The Federal Reserve pushed interest rates to historic highs in 1981, limiting monetary growth; Congress reduced tax rates in 1981 and again in 1986; and Reagan appointees relaxed many federal regulations. Reagan also secured ...