Under Reagan, the national debt rose from 900 billion to $2.8 trillion. The
average national budget deficit per year was $237.5 billion. The federal deficit as percentage of GDP rose from 2.65% of GDP in 1980, Carter's final budget year, to 3.04% of GDP in 1988, Reagan's final budget year.
Other effects of Reaganomics:
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Some economists and critics have blamed the widening gap between the rich and the poor on Reaganomics. His tax cuts and other policies gave additional money to the rich. He cut social programs, increasing the depth of poverty and promoted "Trickle Down Economics".
Reagan did more to damage our economy than possibly any other prez, and his administration remains the most indicted in our history, despite the drivel that teacher is dishing you.
Ronald Reagan's economic policies were labeled "Reaganomics." Reaganomics is the idea of controlled government spending and the lowering of taxes of people of all economic brackets to cause the multiplier effect and generate economic activity.
"Reaganomics," in simplistic terms, meant lower taxes on businesses and rich people so that, in theory, the economy would be stimulated and more jobs would be created for middle class and poor people, who would then have more money to spend on commercial goods and housing. Reaganomics is controversial, but many economists today argue that it did not have the desired effects and actually put a lot of pressure on the economy overall, making things worse for everyone except the rich.
the economy looses millions of dollars paying for repairs
Increased inflatation
It makes the economy stronger and more efficient.
Reaganomics.
The three goals of Reaganomics were to lower taxes, higher defense spending, and curtailed spending for social surfaces. Reagan's plan to help the economy.
Ronald Reagan's economic policies were labeled "Reaganomics." Reaganomics is the idea of controlled government spending and the lowering of taxes of people of all economic brackets to cause the multiplier effect and generate economic activity.
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.
Some have criticized elements of Reaganomics on the basis of equity.
Reaganomics was the name given to Reagan's idea that revenue would be increased if taxes were lowered so that people had more more to spend, thus stimulating the economy.
The Laffer Curve, which is a special case situation in economics where reducing taxes increases government revenues by stimulating the economy.
Reaganomics
The main idea of Reaganomics was to promote economic growth by reducing government intervention in the economy, cutting taxes, and deregulating industries. It aimed to stimulate investment, boost productivity, and create jobs by increasing incentives for businesses and individuals to invest and spend.
Reaganomics emphasized:reduce the federal income tax and capital gains tax
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