It is worthy studying the impact of Reagan era on the current society, economy, politics, and culture of the USA.
Ronald Reagan stepped down as the president on January 20, 1989. Very few presidents in the US history have served two full terms. Yet Ronald Reagan's greatest accomplishment was not simply in staying in power for eight years but rather in the legacy he had left to the next American presidents. The specialists consider that Ronald Reagan's presidency was the most important for a half-century history of the USA. It is worth trying to study some historical turning points in the Reagan era that are still influencing the USA and the world today.
America during the 70s retreated on practically every front: Vietnam, Laos, Cambodia, Angola, Ethiopia, Nicaragua, the Soviets invaded Afghanistan and then there was Iraq. At home there was not much better: high taxes, inflation, gasoline shortage, massive government interference in the economy, crime on the streets. Americans struggled to recover from what was then the deepest economic downturn since the Great Depression. What was more, the Americans seemed to abandon the most important dream in American history: the dream that they could make tomorrow better than today.
The 80s were much better for the USA in-home mainly due to Ronald Reagan's leadership. His achievements may be regarded as a pattern for other countries of nowadays. Ronald Reagan activities lead to: 1) the longest period of economic growth in American history; 2) Reagan reduced the power of the central government and restored power to the states and cities; at last, Ronald Reagan began the privatization of federal services and programs
Throughout the 70s, under Republican and Democratic presidents, the U.S. became militarily weaker and could not keep its promises to Western Europe or Japan or Israel or Southeast Asia. Washington could no longer deal with Moscow from the position of strength. In spring of 1983 Ronald Reagan introduced the new Strategic Defense Initiative, which was renamed as “Star Wars”. It had been assumed that the missile defense system by 2025 would have become the most powerful system of land, sea, air and space-based missile defense. Fortunately it had never lived up to the money already spent.
The term "Reaganomics" was directly connected with Strategic Defense Initiative, because, in fact, Ronald Reagan had introduced his concept of” life in credit”, that accordingly led to the maximum increase of the U.S. debt up 188.2%. In fact during the last fifty years the USA has been spending …