Charlie Lambert
Mr.Mahon
AP US HISTORY
5/7/14
Chapter 40
A. The Resurgence of Conservatism
- Carter’s administration struggling -could not control inflation or foreign affairs did not remove regulatory controls from large industries
- Republicans chose Ronald Reagan -return of conservatism
- New groups spearheaded “new right” movement -Moral Majority -Conservative Christian groups
-. Reagan -big government as bad -condemned federal affairs -disliked favoritism for minorities -ideas from “neoconservatives” (Norman Podhortz and Irving Kristol)
- Reagan’s attractiveness -grown up in impoverished family -Actor in Hollywood, president of screen actors guild -attacked Carter’s issues
- Carter’s farewell address -toning down nuclear arms race -help for human rights -environment protection
B. The Reagan Revolution
- Inauguration -day Iranians released U.S. hostage’s -Secretary of the Interior James Watt —> later resigned
- Reagan proposed to lower government budget -tax-payers dismayed, tired of program cost’s -large federal budget cuts
C. The Battle of the Budget
-Planned cuts -social programs, not defense -tax cut of 25% over three years -new tax-cut bill—> policies favorable to businesses (Reaganomics) to lower individual taxes, eliminate fed. Estate races, new tax-free saving plans for small investors
-Nation in worst recession since The Great Depression -unemployment grew, banks failed -some believed tax cuts caused this, but it was Carters “tight money” policies
-Income gaps widened -emergence of “yuppies” -massive military spending increased American dollar -trade deficit rose
D. Reagan Renews the Cold War
-Get-tough stance against Soviets -arms race that would force soviets into bankruptcy -SDI (Strategic...
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...39,000 U.S. joined other countries to attack Iraq, war for 37 days -Iraq launched ineffective missiles at Saudi Arabia and Israel -Norman Schwarzkopf (American general)—> air bombing raids -land attack, Saddam’s forces surrender
N. Bush on the Home Front
- Americans with Disabilities Act banned discrimination against those with disabilities
- water projects bill 1992 and civil rights bill 1991
- Clarence Thomas to fill Thurgood Marshalls place in Supreme Court -opposed by NAACP (Thomas=conservative) and NOW (Thomas=pro-abortion) -1991 Anita Hill charged Thomas with sexual harassment -gender gap arose
- economy stalled in 1992 -added $133 billion of new taxes to curb annual budget -public confidence reduced (House members wrote bad checks from private house bank)
- 27th amendment -banned congressional pay raises until election had seated new session of congress
Ronald Read ran a campaign based on lowering taxes, and strong national defense. In his first inaugural address, he emphasized the important to conserving the power of an us control our own destinies. He also says that government is not a solution to the problem that they are the problem. During his term, he decreases the size of federal government and supported policies and reforms that he believed empowered individuals. Reagan also worked to reduce federal spending on home programs, due to his concerns about the constitutionality of those programs. He called for finances cuts, mostly from great Society programs. while not touching Medicare and Social security, Reagan authorized cuts in federal schooling programs, food stamp programs, workplace programs, and other non-military domestic programs. Believing the U.S. had left out the military after the Vietnam war, and because the cold battle continued, Reagan asked for increased funds to reinforce the military. The decrease in taxes and growth in army spending ended in the biggest budget deficits in the united states’ records to that time. The deficits persisted each year, however Reagan vowed to veto any tax increases Congress
(Stroilov)Now the Desert Storm was a go. American troops were now forced to get Saddam and his troops out of Kuwait’s Borders. (Stroilov)When this happened over 500,000 American troops were inside Kuwait’s border at the time. Also Iraq had about the same number of troops as the US did. (Stroilov)Although the first 37 days of the Desert storm was done by air bombings. (Stroilov)This meant that none of the American ground troops were in action for the first 37 days of the Storm.(Stroilov)
The "Reaganomics" - "The 'Reaganomics'" Ushistory.org. Independence Hall Association of Philadelphia, n.d. Web. The Web. The Web. 12 Nov. 2013.
President Jimmy Carter assumed the role as Commander-in-Chief with very little experience in foreign policy, hence why the few diplomatic achievements and foreign affairs he orchestrated were overlooked due to being too regionalized and or utterly ineffective. Carter was a sensational humanitarian, with the emphasis of his foreign policy on human rights, but it was also his kryptonite to being an effective leader. His policy efforts to achieve peace took decades to see results, and moreover ironically produced greater global instability and never established peace. Carter’s international campaign to bring awareness towards human rights and the negative impacts of communism on the people lives failed because “By the time Carter became
...vailable for stimulus programs to boost the economy out of the 2008 financial crisis. This caused fewer jobs to be created, which meant less tax revenue and more debt.
Johnson led America in a time of many social movements, and the power of the Civil Rights Movement only added to the importance of passing the Civil Rights Act as soon as possible. Now that the inequality and injustice of minorities was brought to attention, Johnson had the power and motivation to put the Great Society reforms into action, which Democrats had been working towards since President Roosevelt and his New Deal programs. Reagan, however, was president during a time of greed. Reagan came into office during a poor time for the economy, and the upper and middle class Americans were more upset about their taxes being spent on poor Americans through welfare programs. There was also concern for people taking advantage of these programs. Reagan reflected these views and used his views on deregulation of businesses and tax cuts to benefit his supporters in the wealthy portion of Americans. With the passing of several laws benefitting minorities in America, social movements had faded from public view while America’s unrest had subsided, and Reagan didn’t need to have a strong support of civil rights. When the economy eventually rebounded due to Reagan’s economic policies, the success of wealthy businessmen brought about even more greed as the small portion of upper class Americans showed enjoyed luxuries and reaped the benefits of less social
From the day that Ronald Reagan was elected President of the United States, in November 1980, he had a huge task ahead of him, to develop an economic plan or policy to implement into the national economy. President Reagan felt that he needed to base his economic program on the basis of supply side economics (Encyclopedia Britannica, Britannica.com, 2000). This theory is a very complex idea that President Reagan developed himself, so many people gave it the name of Reaganomics (Encyclopedia American, gi.grolier.com , 2000). The theory of Reaganomics called for a significant reduction in all forms of taxes and an adequate cutback on governmental spending so there will be more money in the hands of the American citizens. The main goal of the supply s...
curb inflation. President Reagan was able to sign into law a tax cut in late
Since being founded, America became a capitalist society. Being a capitalist society obtains luxurious benefits and rather harsh consequences if gone bad. In a capitalist society people must buy products and spend money to keep the economy balanced, but once those people stop spending money, the economy goes off balance and the nation enters a recession. Once a recession drastically takes a downturn, the nation enters what is known as a depression. In 2008 America entered a recession and its consequences were severe enough for some people, such as President Barack Obama, to compare the recent crisis to the world’s darkest economic depression in history, the Great Depression. Although the Great Depression and the Great Recession of 2008 hold similarities and differences between the stock market and government spending, political issues, lifestyle changes, and wealth distribution, the Great Depression proved far more detrimental consequences than the Recession.
What at first seemed to be an economic slump turned into a brutal crisis, and all eyes looked to the Government and Federal Reserve to help the economy. With the large amount of debt the economy faced the Federal Reserve stepped in and bailed out the banks in an attempt to smooth over the financial struggles of the economy. The banks that survived took precautionary measures, making it difficult for businesses and consumers to borrow (Love, 2011). Thus leading to businesses failing and less jobs being created. The large amount of debt had also taken its toll on the job market. Between 2007 and 2009 employment dropped by 8 million workers, causing the unemployment rate to go from 4.7 percent to 10 percent (McConnell, 2012).
The Iraq war, also known as the second Gulf War, is a five-year, ongoing military campaign which started on March 20, 2003 with the invasion of Iraq by U.S. troops. One of the most controversial events in the history of the western world, the war has caused an unimaginable number of deaths, and spending of ridiculous amounts of money. The reason for invasion war Iraq’s alleged possession of weapons of mass destruction, which eventually was disproved by weapons inspectors. Many people question George W. Bush’s decision to engage a war in Iraq, but there might be greater reason why the decision was made. The ideas of George W. Bush might have been sculpted by one of the greatest works of all time, "The Prince."
There was general prosperity in America following the Second World War, however in the 1970s inflation rose, productivity decreased, and corporate debt increased. Individual incomes slipped as oil prices raised. Popular dissent surrounding the economic crisis helped Reagan win the 1980 election under promises to lower taxes, deregulate, and bring America out of stagnation. Many New Right supporters put their faith in him to change the system. To start his tenure, Reagan passed significant tax cuts for the rich to encourage investment. Next he passed the Economy Recovery Tax Act that cut tax rates by 25% with special provisions that favored business. Reagan’s economic measures were based on his belief in supply-side economics, which argued that tax cuts for the wealthy and for business stimulates investment, with the benefits eventually tricking down to the popular masses. His supply-side economic policies were generally consistent with the establishment’s support of free market, ...
What caused the Great Recession that lasted from December 2007 to June 2009 in the United States? The United States, a country with an abundance of resources from jobs, education, money and power, went from one day of economic balance to the next, suffering major dimensions of crisis. According to the Economic Policy Institute, it all began in 2007 from the credit crisis, which resulted in an 8 trillion dollar housing bubble (n.d.). This was said by Economist analysts to be attributed to the collapse in the United States. Even today, strong debates continue over major issues caused by the Great Recession, in part over the accommodative federal monetary and fiscal policy (Economic Policy Institute, 2013).
Ronald Reagan took office January 20, 1981, and implemented his policy of Reaganonmics, which reduced government spending. In Closing the Food Gap, Mark Winne states, “Many elderly people who were surviving off of a meager Social Security Income and an allotment of food stamps were devastated when Reagan came into office” (Winne 21-23). Because of the reduced government spending, food stamp allotments were drastically reduced. Some rations were cut nearly in half or more, and multitudes were reduced to the minimum amount of ten dollars. Due to the increasing number of hungry people resulting from the lack of government assistance, “grass-root groups fell back on a kind of quintessential can-do American spirit to address the crisis at hand” (Winne 25). Food stamps are a big deal to people who are barely able to make ends meet because their budget must be split between thre...
Something that may come to everyone’s mind now days and the number one thing that is looked at after a presidential election and every New Year is stock. Stocks determine the health of the economy, the money people are willing to invest, take risks on and win back or lose, but because of the crash, it discouraged people from investing in stocks and instead a huge amount of withdrawals happened leading to the economic collapse that occurred. The U.S government began to worry it would run out of gold because everyone began to turn the couple dollars they still had into gold so the Federal Reserve decided to increase the value of the dollar. Banks began to fail and lose savings; people had to withdrawal the money they had left, leaving banks no other choice but to shut down.