The American economy was in a state of "stagflation" -- a stagnant economy coupled with high inflation. The marginal federal income tax rate was 70%. The inflation rate was increasing by double-digits annually and reached 14% by 1980. Annual GDP growth under the previous administration had been less than one percent (0.6). National unemployment was over 10%. In Flint, Michigan, unemployment was already 20%; in Detroit, 18%; Indiana City, 23%.
The 1920s was called various names such as "The Jazz Age," the Age of Intolerance," and the "Age of Nonsense." But perhaps the most telling was the "Roaring Twenties." It was the beginning of modern America, in politics, arts, customs and fads, literature, sports, etc. Americans felt a relief following the Great War. The nation had survived the deadly worldwide influenza epidemic of 1918. The Twenties was a time of change for just about all the population. Youthful "Flapper" women provoked the older generation by smoking in public, wearing brief skirts, bobbed hair styles, and the use of lots of makeup. New fads included the Charleston dance, dance marathons, flagpole sitting, and flying stunts in the new airplanes. The affordability of radio provided entertainment in the living room. Many sports became "spectator sports" with Baseball and Babe Ruth perhaps being the biggest. Business continued to grow and outward appearances seemed to indicate no slowdown in site. More new products were developed and the consumer was given the opportunity to buy these products "on time." Government seemed unwilling to try too much regulation for fear of upsetting the economic boom.
It was absolutely great but it was plummeting. Everybody was spending their money on that new invention that somebody else had and thought it was so cool.
life before the great deppression was just normal but they had to use stamps but then stock were getting lower priced
Life was great. The early 1920's were called the "roaring twenties." Lots of prosperity. 1929 changed things drastically for the worse.
it was about the HYANNINIS
war
A decade of republican government put the economy in debt. During Reagan's time the money was spend on defense spending.
America was still reeling from the economic downturn (fuel shortages, job losses, etc.) that occurred during the Carter Administration. However, toward the end of the Reagan Administration the economy began to improve. Reagan asked for, and Congress supplied, a huge cut in Income taxes for Americans. When the effects of that tax cut began to take effect, the economy turned around from the Carter years (which had high taxes and inflation). As the economy improved millions of Americans were lifted out of poverty and into the middle class. According to the Census Bureau, more African-Americans joined the American middle class than ever before in history. The growth in the economy continued into the Clinton presidency.
social economy
In the 1980s, Reagan not only cut the taxes but also slashed a number of social programs.
To increase savings and investments, increase economic growth and balance the budget.
What three steps did president Reagan take improve the economy?
He didn't.
When Ronald Reagan was first elected the us economy was facing stagflation. He came up with policies that saved the economy and these are policies that are commonly known as Reaganomics.
Nancy Davis Reagan was a Hollywood actress before she met Ronald Reagan.
True
Ronald Reagan
Inflation was dropped during Reagan's first term in office.
The Economy
False.
move toward a service economy
Yes
No one. Reagan was her only husband.