Reagan as President

Wednesday - May 7, 2025

On March 30, 1981, what was Reagan’s national approval percentage?

70%

What specific kind of voting group did Reagan mostly focus on appealing to?

Small D Democrats - moderate, average voters

What was Reagan’s 1st Act called?

ERTA - Economic Recovery Tax Act

When did Reagan pass ERTA into law?

August 1981

What did ERTA do?

majorly reduced/cut taxes

How did ERTA affect the tax rate for top earners?

Reduced 70% to 50%

What did Reagan hope wealthy business owners would do with extra money?

Reinvest into America’s economy

How did America’s inflation rate change from 1981 - 1982?

10% to 6%

By 1983, what was America’s inflation rate? How did Americans feel about it?

3% - Americans were very happy

When did Reagan announce his new strategy for the Cold War?

March 23, 1983

What was Reagan’s new Cold War strategy called?

SDI - Strategic Defense Initiative

What was Reagan’s SDI like and why?

Reagan’s missile defense system was like Star Wars because his defensive ideas involved a space shield & lasers protecting America from Russia’s Sputnik

Why did some Americans fear Sputnik?

They believed Sputnik would nuke America from outer space

During Reagan’s 2nd term, what was America’s inflation and unemployment rate?

Inflation: 3-5% & Unemployment: 5%

In 1984 , how many states voted for Reagan after his second campaign?

49/50

Which Russian leader came into power during Reagan’s 2nd Presidential term?

1985 - Mikhail Gorbachev

When did Reagan and Gorbachev have each of their 3 meetings?

November 1985, October 1986, and December 1987

When and where was Reagan’s 1st meeting with Gorbachev? What happened?

Geneva, November 1985 - Reagan & Gorbachev (+ wives) become friends

When and where was Reagan’s 2nd meeting with Gorbachev? What happened?

Iceland, October 1986 - Reagan & Gorbachev almost develop a Mega Deal, but Reagan won’t call SDI off. It doesn't happen.

When and where was Reagan’s 3rd meeting with Gorbachev? What happened?

Washington, DC, December 1987 - Intermediate Nuclear Forces Treaty

What was Reagan’s 2nd Act called?

TRA - Tax Reform Act

What did Reagan’s TRA do?

1) simplified the tax code - 14 to 2 tax brackets

2) cut highest personal income tax rate from 50% to 28%

What was Reagan’s INF?

INF - Intermediate Nuclear Forces Treaty

What did INF (agreed upon by Gorbachev & Reagan) do?

1) created a 4% tax cut

2) banned US & Russian conventional ground-launched missiles