Reagan's Positive Economic Impact

Increased personal wealth

Resulted from economic policies during Reagan's presidency.

Reduction of inflation

Inflation decreased significantly during Reagan's presidency, with figures dropping to 6.2% in 1982.

Unemployment

Decreased from 7.1% in 1979 to 5.5% by 1988.

Economic growth

Under Reagan, manufacturing productivity growth averaged 4.6% annually, a significant increase compared to previous decades.

Reduced inequality between rich and poor

The share of federal income taxes paid by the rich increased, while the share paid by the bottom 50% decreased between 1981 and 1986.

Productivity increased

Productivity levels rose to over 4 times the average previous output per worker per hour.

Increased imports

The USA became a leading importer of advanced goods and equipment, contributing to technological advancement.

New industries and the East coast

The computer industry and other new industries on the East coast thrived, impacting population and migration patterns in the USA.

Just helped big business and the rich

Reagan's policies favored big businesses and the wealthy, leading to a reduction in top-level personal tax rates and benefits for millionaires.

Small businesses and farmers suffered

Many small farms failed, and farmers faced challenges, with a high rate of farm sales and suicides during Reagan's presidency.

Deregulation led to risky financial practices

Financial deregulation resulted in risky behaviors by financial organizations, leading to crises like the savings and loans industry collapse and stock market crash.

Failed to reduce the deficit

Despite economic growth, Reagan's presidency saw an increase in the deficit, with federal spending rising and borrowing from abroad becoming necessary.