Reaganomics

Time For Choosing was a pivotal speech delivered by Ronald Reagan in 1964 that launched his political career and laid the foundation for his conservative principles.

Ronald Reagan took office as the 40th President of the United States on January 20, 1981, during a period of economic hardship marked by high taxes, unemployment, and low national morale.

Ronald Reagan addressed the nation on the economy, acknowledging the need for a different approach to tackle the looming economic crisis.

On February 18, 1981, President Reagan delivered a speech to Congress outlining his Economic Recovery Program.

On March 30, 1981, President Reagan survived an assassination attempt by John Hinckley, Jr.

On April 11, 1981, President Reagan was released from George Washington Hospital after recovering from the assassination attempt.

Reagan delivers a speech to the Joint Session of Congress outlining his economic recovery program.

On July 7, 1981, President Reagan nominated Sandra Day O’Connor to the Supreme Court, making her the first female justice.

The Economic Recovery Tax Act of 1981, also known as Reaganomics, was signed into law by President Ronald Reagan on July 27, 1981. It was a significant tax cut aimed at stimulating economic growth and reducing inflation.

On July 29, 1981, the Tax Cut Bill was approved by the House of Representatives as part of Reagan's economic policies.

On August 3, 1981, President Reagan issued an ultimatum to air traffic controllers who were on strike.

Air traffic controllers conducted an illegal strike, posing a major crisis for President Reagan's administration.

The Economic Recovery Tax Act of 1981 was a significant piece of legislation endorsed by President Reagan to address high unemployment and inflation. It became Public Law 97-34 on August 13, 1981.

On September 24, 1981, President Reagan addressed the nation on economic recovery and social security issues.

On September 25, 1981, Sandra Day O'Connor was sworn in as the first female Supreme Court Justice.

On September 29, 1981, President Reagan addressed the World Bank and IMF on the importance of free enterprise over aid.

On October 2, 1981, President Reagan announced the Strategic Weapons Renewal program, which involved deploying 100 B-1 bombers and completing the MX missile program as soon as possible.

On October 6, 1981, Egyptian President Anwar Sadat was assassinated during a military parade in Cairo.

On October 15, 1981, President Reagan delivered a speech at the World Affairs Council focusing on the Third World and free enterprise.

From October 18 to October 19, 1981, a celebration was held to mark the 200th anniversary of the Battle of Yorktown with French President Francois Mitterand.

From October 21 to October 24, 1981, the Cancun Summit took place focusing on international cooperation and development.

On October 28, 1981, the Senate approved the sale of Airborne Warning & Control System (AWACS) to Saudi Arabia.

The publication of David Stockman's article on Reaganomics in the Atlantic Monthly, contributing to public discourse on economic policies.

On November 10, 1981, David Stockman's article on Reaganomics was published in the Atlantic Monthly, discussing economic policies.

On November 18, 1981, President Reagan delivered a speech on arms reduction at the National Press Club.

On November 23, 1981, President Reagan issued his first veto on the 1982 Continuing Budget Resolution.

On December 23, 1981, President Reagan addressed the nation on the situation in Poland, likely referring to the political climate at the time.

On January 26, 1982, President Reagan delivered his first State of the Union address where he announced the transfer of social programs from the federal government to the states.

President Reagan gave a speech in Indianapolis on February 9, 1982, as part of his efforts to promote New Federalism, which aimed to decentralize power and give more authority to state governments.

Delivered a speech to the National Association of Evangelicals in Orlando, Florida, warning against ignoring historical facts and the aggressive impulses of an evil empire.

President Reagan delivered a speech to the nation regarding the relations between the United States and the Soviet Union.

On February 6, 1985, the President vetoed the Emergency Farm Credit Bill, expressing concerns about the significant impact it would have on the national deficit.

Reagan mentioned his support for AIDS research for over four years during a news conference, marking his first public acknowledgment of the AIDS epidemic.

The Signs Appropriations Act was passed, allowing aid to be provided to the Contras, a rebel guerilla group fighting against the Sandinista government in Nicaragua, with certain restrictions excluding military advice or training.

On January 27, 1987, the President delivered the annual State of the Union Address to a joint session of Congress, outlining the administration's priorities and goals for the upcoming year.

On February 4, 1987, the Water Quality Control Act passed despite President Reagan's veto. Reagan vetoed the bill on January 30, 1987, citing concerns about the Federal deficit.

On June 15, 1987, a speech was delivered to the nation regarding the outcomes and discussions of the Venice Economic Summit.

In August 1988, the prime interest rate was reduced to 10% as part of the Reagan administration's monetary policy to combat inflation and boost economic growth.

Ronald Reagan delivered his farewell address on January 11, 1989, highlighting the economic success during his presidency. He mentioned the longest peacetime expansion, increase in real family income, decrease in poverty rate, booming entrepreneurship, and advancements in research and technology.

The Berlin Wall, a symbol of the Cold War, fell on November 9, 1989, leading to the reunification of East and West Germany.

Glenn Hubbard, who preceded Mankiw as Bush's CEA chair, disputed the assertion that tax cuts increase tax revenues, stating that although the economy grows in response to tax reductions, lost tax revenue is unlikely to be completely recovered.