Abstract
The restoration of American power?
I. America in dire straits
II. Reagan and the economic recovery
R. Reagan/G. Bush Sr. 1980-1988
G. Bush Sr./Dan Quayle 1988- 1992
A. A Reaganism = small government
Direct responsible of the crisis, the USA no longer trusted to the government because this led to the war.
Reagan: "Government is not the solution to our problem. Government is the problem" ïƒ remarkable policy of deregulation.
B. Reaganism = economic liberalism
Consisted in deregulating many economic sectors.
- Tax cuts 1981 Economic Recovery Tax Act : income taxes reduced by 25% over three years
The American households were sensitive to the crisis
- Shrinking federal budgets: food stamps, unemployment benefits, welfare
