Reawakening_The_Giant

Reawakening The Giant “We need to reawaken this giant.” -Ronald Reagan. When Ronald Reagan entered office, the American economy was in a state of decline. Economists were doubting the American system of free enterprise, and some thought Russia’s command economy was the answer. The Keynesian school of thought figured that the economy had reached its limit and could advance no further.1 Reagan, however, knew otherwise and pursued his domestic policy of supply-side economics. In 1981 the country entered “The Era of Reaganomics” and experienced the longest era of economic expansion in peace-time ever–for any country in the history of the world.2 This paper will show how the Reagan Administration’s policies affected the economy of the 1980’s. Most people that knew him, inside aides and journalists, had great respect for Ronald Reagan. David Broder of the Washington Post said of Reagan, “One of the most remarkable demonstrators of Presidential leadership in modern history.”3 George F. Will, syndicated commentator, noted in 1992 that the world was better off than it was 10 years ago, and that Reagan was partly responsible.4 Insiders all spoke of how Reagan was the man in reagan, tax, economic, economy, less, income, people, expansion, cut, rate, reagan’s, policies, companies, government, during, because, money, however, even, spending, jobs, inflation, rich, policy, increased, growth, administration, 1989, years, under, supply-side, source, lower, every, before