President Reagan 's First State Of The Union Essay examples

President Reagan 's First State Of The Union Essay examples

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President Ronald Reagan’s first State of the Union address in 1981 to members of congress, honored guests and the citizens of the nation was to roll out his program for economic recovery and to give a new hope to the nation. At the end of the 1970’s the great inflation started. The stock markets were a mess that everyone started panicking. Inflation was at an all time high it hasn’t been this way in 60 years. Interest rates have reached the highest levels it has been in a long time. People were bringing home lots of money put the prices were so high that they couldn’t afford to buy anything. The farming crisis had started at the end of the 1970’s. There was so many companies that went bankrupt during this crisis. Home rates got extremely high that people couldn’t afford to pay for them. Homes were sitting vacant because people couldn’t afford to finish them.
President Jimmy Carter invoked an embargo on all farm exports, stopping all farm products being shipped overseas. In 1972 the Soviet Union negotiated multiyear contracts for wheat and feed grains, causing the price of wheat to double and corn to triple in the next couple of years. These are the same farmers that had borrowed heavily to increase production that was no longer needed. In the mid 70s farmland was being bought up at alarming rates at high costs. Farmers were willing to make a smaller profit in order to be a land baron. New investors were entering the market and running the prices up. “The decade of the 1980’s saw a dramatic shift in the capital structure of American Agriculture and the ownership of its assets. A massive accumulation of farm debt in the 1970’s ran head on into an unfavorable economic climate and incredibly high interest rates in the ...


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...ew he had a good economic plan and started his address out strong by saying that he was willing to “share in restoring the promise that is offered to every citizen by this, the last, best hope of man on Earth.” He painted a very grim picture of a nation in trouble, but he did not blame the citizens of the United States. Instead he put the blame on the government and all of it cumbersome regulations. The tone throughout the whole address was of encouragement. He ended his speech with telling the people of this nation that “We don’t have an option of living with inflation and its attendant tragedy, millions of productive people willing and able to work but unable to find a buyer for their work in the job market.” He knew it wouldn’t happen overnight, but knew that the people were watching and waiting for change and together they could rebuild this wonderful nation.

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