1980’s and beyond effects of reaganonmics. plan in action 25% tax cut across the board proposed...
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1980’s and beyondEffects of Reaganonmics
Plan in Action25% tax cut across the board proposed
Replacing revenue an issueCuts in reduced lunches programs, student loans, job training, and mass urban transit
Congress not in complete support
Economist sound warnings
DeregulationsBanking industry
Savings and Loans
TransportationCut air quality regulations
Decreased efficiency and safety standards in vehicles
No Striking Allowed
Air traffic controllers learn a hard lesson
1981 strike against poor working conditions proves disastrous
Reagan invokes Taft-Hartley law of 1948Illegal for federal employees to strike
Fired workers, barred from federal employment for life
Unions see significant decline
Trading Deficit
U.S. exports becoming too expensive
Less international interest
Increase buying of products from Japan and elsewhere
High trade deficit by 1984
Less manufacturing taking place domestically
Businesses taking advantage of workforce abroad
Foreign Affairs
Soviet Union deemed officially the “evil empire”
Middle East continues to plague presidency
1981 tension mounting between Israel and PLO
PLO builds forces in Lebanon, Israel makes plans to respond
1982 Israeli’s gain upper hand, force PLO leaders out
Cont….
Lebanese Christian militia attacks Palestinian refugee camp killing hundreds
Events pose concern to U.S.
Reagan sends in 2000 Marines to stabilize region
Muslims feel threatened by American presence
1983, Shiite Muslim on a suicide mission kills 240 Marines w/ car bomb
Question arise as to why Marines are there, few answers available
Foreign Affairs cont…..Meanwhile…….
New interest closer to home
Latin America viewed as communist interest
“The national security of all the America’s is at stake” Reagan 1983
Sandinistas target enemy, Contra’s gain U.S. support
Congress and the public fearful of involvement
Congress impose two year ban on aid to the Contra’s in 1984
Money continues to be funneled down south
Iran-Contra Debacle
Uncovered by Lebanese reporter
American hostages in the Middle East, links to Iran assumed
Reagan in a difficult situationConcern for hostages
Opposed to yielding to terrorist demands
Behind the scenes plan coming togetherIsraeli’s open up talks
Iranian arms dealer with clout willing to do business
Cont….
Goal: negotiate release of hostages for anti-tank missiles
Ongoing war with Iraq
Free hostages and gain some influence with “moderate” Iranian government officials
Who agreed to what a big question
The Players
Robert MacFarlaneNational Security Advisor
George SchultzSecretary of State
Casper WeinbergerDefense Secretary
Oliver NorthDeputy under MacFarlane
Ronald ReaganPresident out of touch
Cont…..
Sales made, but only one hostage freed
Primary interest, CIA head in Beirut, William Buckley already executed
Not a complete loss
Money made from the deal available for providing support to Contras and fight against Sandinistas
One problem: against the law
Cont…
End around the decision of Congress
Reagan warned that this could be considered an impeachable offense
Oliver North put in charge of activities
When news broke North is the fall guyReferred to as a national hero, then fired
Details shaky, but condemning
Convicted but overturned on a technicality
Highlight for Reagan
Mikhail Gorbachev and change in Russia
Begins thawing of Cold War relations
Bush benefactor of good relations between the two
1988 election a success
Foreign activity looking positive, communism collapsing in Eastern Europe
No overt activity with foreign policy until 1991 and Desert Storm
Bush I Presidency
Desert Storm activity fast and seemingly effective
Job not fully complete in eyes of many
Bush gained great amount of public support
Short livedEconomy feeling the effects of Reagan policies
Savings and Loan scandal hits, cost of bailout $400b
No new taxes comes back to haunt
A Man Called Bubba
Rhodes scholar from Arkansas
First term plagued by personal issues, domestic and foreign disasters
Don’t Ask, Don’t Tell
Waco, Texas
Somalia
Bosnia and others
1994 midterm elections see House and Senate go to Republicans
Healthcare reform blow up
Clinton Era
Despite Whitewater and Monica Lewinsky, able to garner support
Managed a budget surplus
Low unemployment
Clinton leaves office with high approval
Democrats feeling good