Reaganomics
Definition
Economic program utilized during the Reagan administration, which emphasized low taxes, decreased economic regulation, low social services spending, and high military spending. Contributed to low interest rates, low inflation, and large budget deficits. Some of the major legislations passed during his presidency included the Economic Recovery Tax Act of 1981, the Tax Equity and Fiscal Responsibility Act of 1982, and the Tax Reform Act of 1986. President Reagan's economic approach was different from many previous Presidents, and the country was experiencing stagflation. The mixed effects of President Reagan's program have garnered both support and criticism.
Use Reaganomics in a sentence
“ When our CEO met with the President of the United States, he joked that he would like to see a return to the low taxes and regulation and high defense spending of Reaganomics. ”
“ Reaganomics is a nickname given to President Ronald Reagan's economic program in the 1980s, which aimed at improving the United States economy. ”
“ In later years, the term 'Reaganomics' became shorthand for any political measure that relied on its cult of personality appeal and confusion over its mystical workings, as opposed to measures that provided objective, demonstrable results. ”
