No
In the beginning, yes he was a Democrat. He supported FDR and the new deal, but during the 1950s, he switched from his liberal ideas and became conservative. He was a Republican when he entered the Presidency.
Ronald Reagan.
Before becoming President, Ronald Reagan switched his political affiliation from Democrat to Republican. Shifting priorities of the parties during the 1950s inspired him to do so.
The national debt dropped significantly during the Reagan years.
Franklin D. Roosevelt. Reagan was a moderate/liberal Democrat until he met Nancy Davis, whose father was an important figure in the Illinois Republican Party, and under whose influence Reagan became more conservative. He would not become a Republican until the early 1960s but during the 1950s voted for GOP candidates for president.
President Ronald Reagan
The iran-contra affair occurred during the Reagan administration
Ronald Reagan was the president during the Iran-Conta scandal.
Ronald Reagan.
Inflation was dropped during Reagan's first term in office.
During the 2008 presidential election campaign. See: "what would Reagan do?"
Reagan worked stateside during WW2 making films for the army.