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Essay / Research Paper Abstract
A 5 page research paper that examines the arguments of those who defend the economic policies of President Ronald Reagan in the 1980s – 'Reaganomics.' After exploring these arguments, the writer offers a personal opinion on Reaganomics. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: D0_khreamics.doc
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Unformatted sample text from the term paper:
rest of the country suffered. However, there are quite a few scholars and economists who disagree with this evaluation. They point out that the prosperity of the 1990s actually began
in the 1980s and argue that this period of economic upswing evolved more from Ronald Reagans administration then from the administration of Bill Clinton. Supporters claim that the key features
of President Reagans economic policy - dubbed "Reaganomics" by the media--, i.e. income tax-cuts, new expenditure priorities, monetary restraint and regulatory reform, are largely responsible to the economic growth of
the 1990s (Weldenbam 19). Standards of success used by Reagans defenders Reaganomics was the most ambitious reform effort undertaken by the government since the New Deal (Weldenbaum 19). Those
voices that defend Reaganomics largely point to the problems that Reagan faced and his success in overcoming these obstacles..On entering office, Reagan had many problems that had to be simultaneously
brought under control. He endeavored to control escalating double-digit inflation; jump-start sluggish economic growth, offer tax relief to the American people, strengthen the military, reduce civilian government, curb regulations on
industry and generally expand the role of the private sector (Weldenbaum 19). How Reagan succeeded Statistics from the 1980s attest to the fact that Reagan was largely successful
in meeting his goals. Real GDP declined by one-half of one percent in 1980, which was the last year of the Carter administration; however, by 1988, President Reagans last
year, the GDP rose by 3.9 percent (Weldenbaum 19). The prime interest rate dropped from 15 percent in 1980 to 9 percent in 1988. Furthermore, real median family income rose
from $34,200 in 1980 to $37,000 in 1988, while the unemployment rate decline from 7.0 percent in 1980 to 5.4 percent in 1988 (Weldenbaum 19). Many supporters of
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