Conservative Revolution to Recession 1980 1992 Conservative Revolution

Conservative Revolution to Recession 1980 -1992

Conservative Revolution and the election of 1980 • Jimmy Carter was extremely unpopular and vulnerable going into the election of 1980. • Iran hostage crisis • Inflation • Panama canal • Lacks Charisma • One of the most charismatic politicians of all time • Governor of California • Terrific speaker and quick thinker • Vowed to fight communism on all fronts • Pledged to lower taxes and jumpstart the economy.

Reagan wins easily o o One of the most lopsided victories in election history. Country was alive with new hope. n n o Embraced supply-side economics, which he felt would stimulate the economy n o Lowering taxes in order the encourage companies to hire people and for people to spend more money Also pledged to cut social service programs to reduce government spending n n n o Pledged to fix “the worst economic mess since the Great Depression” Blamed big-government Democrats for the problems: “Government is not the solution to the problem…Government is the problem. ” Food stamps Student loans Government jobs One of the most effective users of Presidential power in the nation’s history

“Honey, I forgot to duck…” o Just as Reagan’s ambitious government overhaul begins, there is an attempt to assassinate him n n John Hinckley, Jr. fires numerous bullets at Reagan, hitting him in the chest Also critically injured is James Brady Reagan’s press secretary, after being shot in the forehead o https: //www. youtube. com/watch? v=6 x. ZWfb. Cw 2 WA o https: //www. youtube. com/watch? v=C 2 ysjoe. Mru A

James Brady o Reagan’s Press Secretary o Shot in the Head n n n Reported dead on the evening news Significant brain injury Would be paralyzed for the rest of his life o Remained Mr. Reagan’s Press Secretary, but would never address the media again o Co-author of the “Brady Bill” gun control legislation

Reagan’s legend grows o To his wife: “Honey, I forgot to duck…” o To his surgeons: “I hope you guys are Republicans…” o Regan makes a complete recovery and speaks to congress on behalf of his budget proposal only weeks after being shot o His calmness and courage make him an iconic figure and the embodiment of the American character.

Economic policies o Lower taxes o Smaller government o Deregulation n Relying on the market to direct the economy rather than government policy n Fought to remove government intervention, relaxing environmental restriction, allowing off-shore drilling for oil, stopping the growth of national parks, and opening up federal lands for drilling and timber production

Communism o Expansion of the military o Challenges the Soviet Union (USSR) n Called them the “Evil Empire”, accusing them of willing to commit any crime to advance their empire n Felt they threatened the security of the United States n Abandoned most or Richard Nixon’s diplomatic agreements with the Soviets n Began research on the Strategic Defense Initiative (SDI), also known as “Star Wars”-weapons that can destroy incoming missiles n Challenged Soviet interests in central America

Election of 1984 o President Reagan easily defeats his Democratic challenger in 1984, former Vice President Walter Mondale n n n Mondale questions Reagan’s ability to lead because of his age Mondale is outmatched politically Reagan is popular, charming and effective o Mondale’s running mate, Geraldine Congresswoman Geraldine Ferraro, is the first female Vice. Presidential candidate of a major political party

Oops… o Re-elected easily in 1984 o While dealing with the expansion of Communism in Central America and the Middle East, Reagan became embroiled in the Iran. Contra scandal. n n n Trading of American military equipment for the return of American hostages in Iran Selling of equipment to Iran and using the money to support anti-communist rebels in Central America, which is illegal under United States law. Several of Reagan’s advisors were prosecuted, and although Reagan himself survived, his reputation was clearly damaged

“Mr. Gorbachev, tear down this wall…” o Reagan softened on USSR in his second term. Favored negotiation n Actually befriended the new Soviet Leader, Mikhail Gorbachev p Gorbachev favored parastroika (restructuring) and glasnost (openness) in their foreign and domestic policy p https: //www. youtube. com/watch? v=xf. Zg. R 5 KOIXs o Reagan and Gorbachev together with future action by George H. W. Bush, brought about an end to the Cold War and the collapse of the Soviet Union n

The end of the good times… o Regan’s successor, George H. W. Bush, was elected in 1988 n n n Elected because he promised to continue most of Reagan’s policies Enjoyed a record high approval rating of 91% Lost his job six months later as a result of a crippling recession that Democrats say was caused by the Reagan economic policies

Democrats win the White House in 1992 • Bill Clinton, (D-AR) was a moderate alternative to conservatives who were weary of “voodoo economics and its effect on the economy • Voo-doo economics was the sarcastic name Bush had given to Ronal Reagan’s supply-side theory in 1980 • Economy in a terrible recession • President Bush had been forced to renege on his campaign promise of 1988: “read my lips…no new taxes!” • Clinton was a younger, more trendy candidate who appeared on late nigh talk shows playing with the band telling jokes • Clinton easily defeated Bush in the electoral college, 370 -168