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Line 54: − *Nationalized banking and savings interests totaling nearly 250 billion dollars. Line 108:
Line 107: − − === Iran-Iraq War === − In 1980, Iraq started the war with a blitzkrieg attack. The tide had turned by 1982 in favor of much larger Iran, and the Reagan administration was afraid Iraq might lose. Reagan chose Donald Rumsfeld as his emissary to Hussein, whom he visited in December 1983 and March 1984.[2] − − After the visit, the Reagan administration offered Hussein financial credits that eventually made Iraq the third-largest recipient of US assistance totaling roughly 30 billion dollars in aid. The CIA and DIA relation with Hussein intensified. The CIA regularly sent a team to Hussein to deliver battlefield intelligence obtained from Saudi AWACS surveillance aircraft, Iraq used this information to target Iranian troops with chemical weapons. − − Under President George H.W. Bush, the U.S. doubled its financial credits for Iraq. Dick Cheney, who was secretary of defense and a statutory member of the National Security Council that reviewed Iraq policy, supported the administration's appeasement policy. −
Ronald Wilson Reagan (view source)
Revision as of 01:46, February 13, 2009
, 01:46, February 13, 2009Undo revision 622873 by Johnqpublic111 (Talk) Plagiarized from wikipedia
*Reduce government regulation of the economy.
*Reduce government regulation of the economy.
*Control the money supply to reduce inflation.
*Control the money supply to reduce inflation.
Fueled by an over spending [[Congress]] that steadfastly refused Reagan's budget proposals, the national debt increased 160% during his two terms in office. However, the economic growth that resulted from tax cuts made deficits as a percentage of [[GDP]] lower than what they had been in during the previous decade of stagflation. The period of high [[inflation]] and [[unemployment]] when Reagan took office was over after eight years of his Presidency. In 1986 Reagan signed the [[Tax Reform Act]], which obtained an overhaul of the income tax code and eliminated many deductions and exempted millions of people with low incomes. The [[income tax]] rates of the top personal tax bracket dropped from 70% to 28% in 7 years. At the end of his administration, the Nation was enjoying its longest recorded period of peacetime prosperity without [[recession]] or [[depression]].<ref>http://www.whitehouse.gov/history/presidents/rr40.html</ref>
Fueled by an over spending [[Congress]] that steadfastly refused Reagan's budget proposals, the national debt increased 160% during his two terms in office. However, the economic growth that resulted from tax cuts made deficits as a percentage of [[GDP]] lower than what they had been in during the previous decade of stagflation. The period of high [[inflation]] and [[unemployment]] when Reagan took office was over after eight years of his Presidency. In 1986 Reagan signed the [[Tax Reform Act]], which obtained an overhaul of the income tax code and eliminated many deductions and exempted millions of people with low incomes. The [[income tax]] rates of the top personal tax bracket dropped from 70% to 28% in 7 years. At the end of his administration, the Nation was enjoying its longest recorded period of peacetime prosperity without [[recession]] or [[depression]].<ref>http://www.whitehouse.gov/history/presidents/rr40.html</ref>
The operation was known as the "[[Iran-Contra affair]]." After word got out about the operation in November 1986, investigations were made, leading to the convictions of several members of the Reagan administration. President Reagan himself testified before the Tower Commission that he had poor recollection of the details of the operation due in part to the heavy pain medications he had been on in that period.
The operation was known as the "[[Iran-Contra affair]]." After word got out about the operation in November 1986, investigations were made, leading to the convictions of several members of the Reagan administration. President Reagan himself testified before the Tower Commission that he had poor recollection of the details of the operation due in part to the heavy pain medications he had been on in that period.
===Cold War victory===
===Cold War victory===