Reagan's [[Supply-side economics|supply-side economic]] policies were based on the [[libertarian]] ideas of [[Milton Friedman]] and the [[Chicago School of Economics]]. "Reaganomics" was based on the idea that tax cuts will spur savings and investment. Reagan was strongly opposed to the concept of [[Big government]], advocating a reduction in the size and budget of the federal government. During his terms in office, he faced a divided Congress split between Republican and Democratic control for six of his eight years as president. Reagan was known for forging alliances with "[[Conservative Coalition|boll weevil]]" (conservative) Democrats to overcome the apparent majority led by Democratic Speaker [[Tip O'Neill]]. | Reagan's [[Supply-side economics|supply-side economic]] policies were based on the [[libertarian]] ideas of [[Milton Friedman]] and the [[Chicago School of Economics]]. "Reaganomics" was based on the idea that tax cuts will spur savings and investment. Reagan was strongly opposed to the concept of [[Big government]], advocating a reduction in the size and budget of the federal government. During his terms in office, he faced a divided Congress split between Republican and Democratic control for six of his eight years as president. Reagan was known for forging alliances with "[[Conservative Coalition|boll weevil]]" (conservative) Democrats to overcome the apparent majority led by Democratic Speaker [[Tip O'Neill]]. |