Getting to California

____________ - also known as supply-side economics; if taxes are cut, more money will be spent so more jobs will be created and the benefits will “trickle down” to everyone

____________ - attempted to assassinate President Reagan in March 1981. Reagan’s survival helped his popularity and got his economic program passed.

____________ - when the nation spends more money then it collects in taxes by borrowing money. In 1980 the national debt was $1 trillion, by 1990 it was $3 trillion (today $11.2 t)

____________ - first female ever appointed to the United States Supreme Court

____________ - former vice-president of Jimmy Carter, was the Democratic nominee for President in 1984. Nominated Geraldine Ferraro as his vice-presidential candidate (first woman ever nominated for the position).

Ch 28 Sec 2.1: The Reagan Years

Intro 2

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Textbook Assignment (pp.865-868)

1) What kind of experience did Ronald Reagan have that helped him in his bid for the Presidency in 1980?

2) In order to offset his tax cuts, Ronald Reagan cut spending for what types of programs?

3) Why did John Hinckley attempt to assassinate President Reagan in March 1981 and what were the results?

4) What significant milestones were reached for women during the decade of the 1980s by Sandra Day O’Conner and Geraldine Ferraro?

Section 2.1: The Reagan Years

Intro 3

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Chapter ObjectivesSection 2: The Reagan Years

• Explain President Reagan’s economic recovery plan.

Section 2-1

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Guide to Reading

The presidency of Ronald Reagan brought a new conservative attitude to government.

• supply-side economics

Main Idea

Key Terms and Names

• Reaganomics

• budget deficit

• Sandra Day O’Connor

• William Rehnquist

• Geraldine Ferraro

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The Road to the White House

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• Ronald Reagan had worked as a broadcaster and actor, which helped him with public speaking and his image.

(pages 865–867)(pages 865–867)

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The Road to the White House

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• Reagan had been a Democrat and a supporter of the New Deal, but during his time as the president of the Screen Actors Guild he began shifting to conservative ideas.

(pages 865–867)(pages 865–867)

• Barry Goldwater asked Reagan to speak in a televised broadcast.

• Reagan caught the attention of several wealthy entrepreneurs, who convinced him to run for governor of California in 1966 and he was reelected in 1970.

• In 1976 Reagan made an unsuccessful bid for the Presidency against Gerald Ford for the Republican nomination but won the nomination four years later.

The Road to the White House (cont.)

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• Reagan’s campaign for the 1980 presidential election appealed to Americans who were frustrated with the economy and a weakened nation.

• He promised to cut taxes and increase defense spending.

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The Road to the White House (cont.)

During the 1980 Republican primary, George Bush was one of the greatest critics of Ronald Reagan’s plan to cut taxes but increase defense spending, saying it didn’t add up, and actually during the campaign referred to Reagan’s plan as Voodoo Economics.

From Major Critic to Vice President

• He won the election with nearly 51 percent of the popular vote and 489 electoral votes.

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The Road to the White House (cont.)

(pages 865–867)(pages 865–867)

The night before Reagan was to take the oath of the Presidency, outgoing President Jimmy Carter spent the entire evening negotiating the release of the hostages from Iran. The Ayatollah agreed to the terms and the hostages were released after 444 days, but not until hours after Reagan took the oath of office.

American hostages released from Iran on Reagan’s watch

Reagan’s Domestic Policies

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• Ronald Reagan’s first priority was the economy and its combination of high unemployment and high inflation.

• Conservative economists disagreed on how to address the problem.

• On one side, the monetarists believed that too much money in circulation caused inflation, and raising interest rates was the solution.

• The other group supported supply-side economics, arguing that the economy was weak because steep taxes were taking money away from investors. (pages 867–868)(pages 867–868)

• Reagan combined the two types of economics by encouraging the Federal Reserve to raise interest rates and by asking Congress to pass a massive tax cut.

• Critics called his approach Reaganomics or “trickle-down economics.”

• They believed that it would help wealthy Americans, but little would “trickle down” to average Americans.

Reagan’s Domestic Policies (cont.)

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(pages 867–868)(pages 867–868)

Daily Focus Skills Transparency 2

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On March 30, 1980 Ronald Reagan was shot by John Hinckley, Jr. in an attempt to get the attention of actress Jodie Foster.

Reagan survived the attempt and his popularity soared and helped him get his economic package passed through Congress.

How Jodie Foster helped pass Reaganomics

• Cutting tax rates meant less money for the government and an increase in the budget deficit–the amount by which expenditures exceed income.

• To control the deficit, Reagan cut social programs.

• These cuts were still not enough to balance the budget.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

As a result of almost nonstop deficit spending over the last 30 years, the national debt has now passed the $11 trillion mark.

($11,233,689,147,477 as of Sun)

Since September of 2007 the debt has been rising $3.79 billion per day and if divided by the population, every man woman and child in America would owe $36,694.04.

You owe $36,694.04

• Reagan saw government regulations as another cause of economic problems.

• He signed an executive order eliminating price controls on oil and gasoline, which resulted in lower gas prices.

• Other deregulation occurred in the automobile industry, airline industry, and the easing of regulations on pollution.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

• Reagan took his conservative ideas to the federal judiciary.

• He wanted judges to follow the original intent of the Constitution.

• He nominated the first woman, Sandra Day O’Connor, to the Supreme Court.

• In 1986 Reagan chose the most conservative associate justice, William Rehnquist, to fill the spot left vacant by retiring Chief Justice Warren Burger.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

• As the 1984 election approached, the growing economy made Reagan the favorite candidate.

• Democratic candidate, Walter Mondale, chose as his running mate Geraldine Ferraro, the first woman to run for vice president for a major party.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

• Reagan won in a landslide, receiving all electoral votes except those from Mondale’s home state and the District of Columbia.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

Chapter Summary 1

Section 2-15

What was Reaganomics?

Reaganomics was President Reagan’s economic policy to end stagflation by raising interest rates and by passing a massive tax cut. Critics called his approach “trickle-down economics,” believing that it would help wealthy Americans, but little would “trickle down” to average Americans.

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Reagan’s Domestic Policies (cont.)

(pages 867–868)(pages 867–868)

Chapter Assessment 5

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Reviewing Key Facts (cont.)

What three steps did President Reagan take to improve the economy?

He implemented Reaganomics, program cuts, and deregulation.

Chapter Assessment 6

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Reviewing Key Facts (cont.)

What social issues did the United States face in the 1980s?

Social issues facing the United States included AIDS, alcohol abuse, crime, drug abuse, homelessness, and Social Security.

Chapter Assessment 15

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What industries were deregulated during the Reagan years?

The oil and gas, automobile, cable television, and airline industries were deregulated.

End of Chapter Assessment

FYI 2-1

Ronald Reagan used his experience as an actor for his life in public office. Just as he had rehearsed his lines as an actor, he spent hours fine-tuning the wording and delivery of his speeches.

FYI 3-1

In 1986 the surgeon general of the United States, C. Everett Koop, released a report on AIDS. The report was explicit and non-judgmental. It was also controversial. Because Koop believed strongly that AIDS was a public health crisis, he wrote a brochure, “Understanding AIDS,” and mailed it to 107 million American households.

You Don’t Say 4-2

Downsizing Some companies chose to use the term downsizing rather than layoff because layoff sounded too negative. After several years of downsizing, some companies started to use the term rightsizing to infer that cuts were being made to adjust the workforce to the correct size.

End of Slide Show