USA- Impact of Reagan on the USA, 1981–96 Flashcards
(81 cards)
How was Reagan influenced by supply-side economics?
Influenced by the emphasis on reducing taxes and regulations to stimulate production, investment, and economic growth.
What action did Reagan take regarding White House travel expenses?
Travel expenses for White House members were cut by 15% when Reagan took office as part of his broader strategy to reduce government spending.
What changes did the Economic Recovery Tax Act introduce and when was it passed?
The Economic Recovery Tax Act, passed on 13th Aug 1981, included a 23% marginal tax cut, a decrease in the highest tax band from 70% to 50%, and a reduction in the lowest tax band from 14% to 11%.
What was the purpose of the Executive Order issued on 16th Jun 1981 regarding housing?
Reagan’s Executive Order for the President’s Commission on Housing, aimed to address housing policy.
What is the Consolidated Omnibus Budget Reconciliation Act (COBRA) and when was it passed?
The Consolidated Omnibus Budget Reconciliation Act (COBRA), passed on 7th Apr 1986, allowed workers to continue health insurance coverage after leaving their job.
What did the Tax Reform Act of 1986 accomplish?
The Tax Reform Act, passed on 22nd October 1986, simplified the tax code and reduced the number of tax brackets.
What was the unemployment rate in 1980 and 1983?
Unemployment rates were around 7% in 1980 and around 10% in 1983.
How did inflation change from 1979 to 1982 during Reagan’s presidency?
Inflation rates were around 11% in 1979 and decreased to around 6% in 1982.
showing how inflation fell during Reagan’s first term.
What action was taken to streamline government regulations during Reagan’s presidency?
23,000 pages were removed from the Federal Register to streamline government regulations and reduce unnecessary paperwork.
How much money was saved by a strike force set up to combat government fraud and waste?
$2 billion.
When did Reagan issue an Executive Order to deregulate oil and fuel prices?
28th Jan 1981.
When was the Presidential Advisory Committee on Federalism established, and what was its purpose?
The Presidential Advisory Committee on Federalism was set up on 8th Apr 1981, designed to address issues related to the balance of power between the federal government and states.
What was Reagan’s approach to welfare, and what did he focus on instead?
Reagan tried to change ‘welfare’ to ‘workfare’, focusing on promoting employment and self-sufficiency rather than reliance on government assistance.
How many states were running work programs and by when?
By Jan 1987, 42 states were running work programs.
How did the number of low-income homes available to families change between 1970 and 1985?
In 1970, 2.4 million low-income homes were available to families who applied, and by 1985, that number increased to 3.7 million.
How much did funding for homeless projects increase between 1984 and 1988?
Funding for homeless projects increased from $300 million in 1984 to $1.6 billion in 1988.
What did the Job Training Partnership Act accomplish and when was it passed?
The Job Training Partnership Act, passed on 13th October 1982, shifted job training responsibilities from the federal level to state and private programs.
What change did the Social Security Reform Bill introduce and when was it?
The Social Security Reform Bill, passed on 20th Apr 1983, linked payments to inflation to ensure benefits kept up with rising costs.
What was the purpose of the Family Support Act? When in the late 80s was it passed?
Passed on the 13th Oct 1988. The Family Support Act promoted work and provided welfare-to-work programs.
How did average mortgage debt and the rate of foreclosure (when they take your house cus you cant afford it) change between 1980 and 1987?
Between 1980 and 1987, average mortgage debt increased by 30%, and the rate of foreclosure quadrupled during this period.
How did workers’ leisure time change between 1973 and 1987?
In 1973, workers had an average of 26 hours of leisure time per week, which decreased to 16 hours per week by 1987, reflecting longer working hours.
How did the number of racial discrimination lawsuits compare between Reagan’s and Nixon’s first six months?
Racial discrimination lawsuits in Reagan’s first six months totalled 5, compared to 24 during Nixon’s first six months, indicating a shift in civil rights enforcement.
How many new small businesses were formed between 1981 and 1982?
500,000 new small businesses were formed between 1981 and 1982, reflecting the entrepreneurial environment encouraged by Reagan’s policies.
In 1980, what percentage of farmers were receiving 60% of the subsidy funds, and what does this indicate?
In 1980, 17% of farmers were receiving 60% of the subsidy funds, highlighting the concentration of subsidies among larger, wealthier farms.