USA HISTORY

Detailed explanation-1: -The pillars of Reagan’s economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation.

Detailed explanation-2: -Reagan’s policies stressed conservative economic values, starting with his implementation of supply-side economic policies, dubbed as “Reaganomics” by both supporters and detractors. His policies also included the largest tax cut in American history as well as increased defense spending as part of his Soviet strategy.

Detailed explanation-3: -Upon taking office, Reagan argued that the United States faced a dire crisis, and that the best way to address this crisis was through conservative reforms. His major policy priorities were increasing military spending, cutting taxes, reducing non-military federal spending, and restricting federal regulations.

Detailed explanation-4: -He was praised by supporters for running a campaign of upbeat optimism. Aided by the Iran hostage crisis and a worsening economy at home marked by high unemployment and inflation, Reagan won the election in a massive landslide.