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Ch. 33: Conservative Tide - Section 2: Reagan & Bush

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Joseph Sahd

on 31 May 2013

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Transcript of Ch. 33: Conservative Tide - Section 2: Reagan & Bush

IF YOU WANT TO SEE AN EXAMPLE ON HOW TO USE THIS TEMPLATE, PLEASE CHECK: https://prezi.com/n-8ibkiw881r/number-systems/ • Reagan was able to reduce the size and power of the federal government by cutting federal entitlement programs and through deregulation, which is cutting back of federal regulation on industry
o Examples: Reagan deregulated airline industry and the savings & loan industry
o Positive result: Increased competition and often resulted in lower prices for consumers

• Also through deregulation, Reagan cut the budget of Environmental Protection Agency (EPA), which was established in 1970 to fight pollution and conserve natural resources
o Examples: Reagan opened the continental shelf to oil & gas drilling Deregulating The Economy Conservative Victories
In 1984 & 1988 • National Debt Climbs
o Beneath the surface of recovery lay continual economic problems:
• Tax cuts helped the rich
• Social welfare cuts hurt the poor
• Federal spending still outstripped federal revenue

o Result: By the end of Reagan’s 1st term, the national debt had almost doubled National Debt Climbs Judicial Power Shifts
To The Right "Reaganomics"
Takes Over Recession & Recovery Section 2: Conservation Politics Under Reagan & Bush Chapter 33: The Conservative Tide • People who supported Reagan’s conservative policies
o Business People: Supported deregulating the economy
o Southerners: Supported limits on federal power
o Westerners: Resented federal controls on mining & grazing
o Reagan Democrats: Agreed with Reagan on limiting federal government and thought the Democratic Party had drifted too far to the left

• 1984 Presidential Election
o Reagan & Bush won reelection nominations from Republican Party

o Walter Mondale (Carter’s V.P.) who chose Geraldine Ferraro (Representative from New York)
• Ferraro: 1st woman on major party’s presidential ticket

o The strong economy in 1984 helped
Reagan & Bush won in a landslide • One of the most important ways Reagan accomplished his conservative goals was through his appointments to the Supreme Courto Reagan nominated: Sandra Day O’Connor (1st woman on Court), Antonin Scalia, and Anthony M. Kennedy

• Reagan also nominated chief justice William Rehnquist
(Most Conservative Justice on Court)

o President George H. W. Bush made the Court even more conservative with his nominations of David H. Souter (replaced William Brennan) and Clarence Thomas (replaced Thurgood Marshall)

• Reagan & Bush appointments to Supreme Court ended the liberal control over the Court that had begun under FDR
o Results:
• 1989: Court restricted a woman’s right to an abortion
• 1989: Court imposed new restrictions on civil rights laws
• 1990-1991: Court narrowed the rights of arrested persons • March 30, 1981: President Reagan and other members of his staff were shot by John Hinckley Jr.
o Reagan said to his wife while being wheeled into surgery, “Honey, I forgot to duck” (line said by 1920s boxer Jack Dempsey)
o In the operating room, Reagan said to the surgeons, “I hope you fellas are Republicans”

• Most severe recession since Great Depression lasted from July 1981 until November 1982
o Early 1983: Economic upturn!
• Stock market surged
• Unemployment declined
• Gross National Product went up about 10%

o Stock market boom lasted until 1987, when it crashed
• It then recovered and continued to climb Main Idea: Presidents Reagan & Bush pursued a conservative agenda that included tax cuts, budget cuts, and increased defense spending

Why It Matters Today: The conservative views of Reagan & Bush created policies and priorities that affect government spending and budgeting today • “Reaganomics” - Reagan’s new economic policies, which consisted of:
o 1. Budget Cuts
o 2. Tax Cuts
o 3. Increased defense spending • Budget Cuts
o Reagan called for cuts in government spending on social programs
• Entitlement programs that benefited the middle class
(Social Security, Medicare, veterans’ pensions) remained intact
• Congress slashed the budget for other programs by 10%
(mass transit, food stamps, welfare benefits, student loans)

• Tax Cuts
o “Reaganomics” rested heavily upon supply-side economic, which is a theory that states if people paid fewer taxes, they would save more money
• Then banks could loan more money
• Businesses would use loans to increase productivity
• Supply of goods would then increase, which would drive prices down

o At Reagan’s request, Congress lowered income taxes by about 25% over a 3-year period

• Increased Defense Spending
o Between 1981 – 1984: The Defense Department budget almost doubled (MX Missile & B-1 Bomber)

• Part of the Strategic Defense Initiative (SDI), which was a defense system that would keep Americans safe from enemy missiles (AKA Star Wars) • The 1988 Presidential Election
o Republican: George H. W. Bush (Reagan’s V.P.)
o Democrats: Michael Dukakis (Governor of Massachusetts)

o Bush was able to win by building off of Reagan’s legacy (Won 53% of popular vote and 426 electoral votes)
• Bush promised, “Read my lips: No new taxes”
• However, it was the lowest voter turnout in 64 years 1988 Presidential Election
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