1980s america
TRANSCRIPT
US Studies1980S AMERICA
1980s part oneCONSERVATISM
Issue Liberal Viewpoint Conservative Viewpoint
Role of Government in the Economy
MORE government involvement (social programs; business regulations)
LIMITED government (lower taxes, less business regulations) to stimulate the economy (Free Market)
Foreign Policy International diplomacy and multilateralism
Rely on our military and acting unilaterally
A CONSERVATIVE ERA
Why?• The Federal Government had gotten too big and
powerful• This deterred economic growth• Social programs (especially welfare) were NOT
working• This deterred individual initiative• Ronald Reagan’s Inauguration
National values have degraded (Counterculture)
Families had broken up (Women’s Movement)
Abortion was now legalOrganized religion in declineTaxes and debt had risen (Vietnam and
Great Society)Civil Rights Movement had “gone too
far” (Affi rmative Action)
WHAT’S WRONG WITH LIBERALISM?
1980s part twoREAGAN PRESIDENCY
Backlash favored Reagan
Bad economy helped too: “Are you better off now than you were four years ago?”
Carter Administration was inept (Hostage crisis)
Charismatic; Great Communicator
Spoke of America’s greatness
REAGAN’S ELECTION
1980 ELECTION
Step One: EconomySupply-Side: Tax Cuts for all Americans; most for wealthiest
Stimulate economy & create jobs
Balance the budget (cut spending)
Lots of deregulationResult: deep
recession at first
,
REAGAN REVOLUTION
Economy improved by 1983: Inflation down GNP up Incomes increased Employment rose
But… Homelessness up Poverty increased Record budget deficits Savings & Loan
scandal
ECONOMIC TURNAROUND
Largest peacetime military spending (make USSR bankrupt)
SDIGrenada (1983)
InvasionNicaragua (1983)
support ContrasResult: US begins
to forget Vietnam
MILITARY ACTIONS
Air Traffi c Controllers—illegal to go on strike (13,000 did)
$10,000 raise/32-hour week
Reagan—two days to return
Fired them: “I meant what I said”
TAKE NO PRISONERS
UNBELIEVABLE POPULARITY
Civil Rights—African-Americans elected to offi ce; MLK Day—national holiday
Renewed patriotism (Statue of Liberty; 1984 Olympics)
AIDSManufacturing jobs goneEntitlements still around (Social
Security, Welfare, Medicare)
OTHER 80S ISSUES
1980s part three
GEORGE H. W. BUSH
1988 Election: very nasty
Bush presidency focused on foreign policy
“Read my lips, no new taxes…”
Persian Gulf War (tomorrow)
Economy faltered (downsizing)—lost‘92)
BUSH PRESIDENCY