Signed in August, these enactments were a major reduction in domestic expenditures and the Economic Recovery Tax Act of 1981, were designed to lower federal revenues over a five year period in the amount of $737 billion. This new conservative movement advanced a populist rhetoric that appealed to the working and middle classes in ways not seen in US politics since the turn of the century. The inquiry revealed that twenty administrators in the EPA had each accepted corporate bribes. What did events surrounding the Watergate break-in and cover-up suggest about Richard Nixon? Similar to the Great Awakening of the early eighteenth-century, charismatic religious leaders became national celebrities and attracted legions of loyal followers. On the answer line, write the word from the vocabulary list that fits each definition. The tax cuts of 1981. Most Americans lacked a sophisticated understanding of supply-side economics, but they knew the economy had floundered under Carter and was recovering under Reagan. After the 1930s, some government borrowing was also accepted in times of financial crisis as a way to spur the economy. As president, Reagan focused time and money on building up the military and expanding the national security state at home and abroad. Reagan also proposed significant budget cuts to Social Security and Medicare, just to make sure that the federal budget could be balanced while the nation awaited the economic bonanza he believed his tax cuts would produce. More than anything else, though, Reagan's sunny disposition helped Americans recover from the cultural and economic shocks of the . initiated the largest military buildup in American history. 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In addition, several officials were convicted of accepting bribes or other ethics violations. The theoretical inanity of Marginalism and its accounting emanations, Other conservatives sought to prevent drug addiction, crime, and pornography, and to reverse societal toleration for obscenities in Hollywood. In 1998, Congress brought impeachment charges against President Clinton because he: lied about his extramarital affair before the grand jury. Chief among these rules was the provision that S&L loans be backed by collateral such as a home mortgage. In the 2008 election, when Barack Obama "redrew the nation's political map," he: won in states that had been reliably Republican for years as well as in Democratic strongholds. They also disagree that tax cuts for the wealthy created jobs, pointing out that the percentage of jobs that paid wages above the poverty level had declined. One of the most immediate results was the growth of environmental interest groups such as the Sierra Club, whose protests resulted in some areas of the federal domain again being declared off limits to developers. An eternal optimist, Reagan believed in the goodness of America and its people. The boast was likely a stretch in the case of Reagan, especially given the publics frustration with Carter and the small following these interest groups enjoyed in 1980. How did the experience of the 1960s shape America's neoconservatives? The economic condition known as stagflation was caused by: stagnant economic growth and high inflation. He was willing to condone illegal activity if it would silence his political enemies. More disturbing to environmentalists, the EPA reinterpreted the Clean Air Act and other laws in a way that was so favorable to industry that an investigation was conducted. While the results of deregulation were mixed in most industries, the deregulation of the financial industry led to complete disaster. The most outspoken of these leaders were a new breed of clergy known as televangelists who attracted millions of loyal viewers through religious television programs. Although it confounded many Democrats, Reagan retained the support of many union voters and lower-income Americans through his second term. However, because the Reagan administration pursued the principles of supply-side economics with such vigor, the basic theory that increasing the wealth of the wealthy would eventually trickle down to the rest of the nation became known as Reaganomics. Critics of the president used other monikers such as voodoo economics to describe Reagans theories. However, Evangelicals understood that Carter did not believe that his personal religious ideas should influence policy and he generally supported the more liberal views of his Democratic supporters. Many of the leading televangelists joined in the decades celebration of material wealth by purchasing lavish homes and luxury items. Though the 1980 election constituted a triumph of the New Right network in mobilizing millions of Americans to cast a vote for Ronald Reagan, the close race and the election of a Democratic Congress showed that Americans approached conservatism cautiously. "I first. Conservative women viewed the rapprochement of straight and lesbian activists within the feminist movement, along with recent decisions by the Supreme Court upholding abortion laws and banning school prayer, as proof that they were waging a war against the ungodly forces of both Sodom and Gomorrah. Greatest Achievements of President Reagan. During the early period of the Cold War, modern American conservatism, based around its flagship publication, National Review, began to emerge as a "three-legged stool" of laissez-faire. Although the market had risen quickly in proceeding years due to speculation, these gains were erased in a single day when the Dow Jones average fell over 20 percent. Unlike previous Wall Street financiers, such as JP Morgan, Milkens deals did not support economic growth by matching legitimate entrepreneurs with investors. Reagan himself usually deflected the criticisms of his economic policy in a good-humored manner that undermined some of his critics. This section gives students an opportunity to examine the variety of strategies conservatives used to govern from the White House. Critics also take note of an apparent contradiction between neoconservatives' views on domestic and foreign policy. They likely missed the point: Reagan was appealing to a nation that felt like it needed a win. Report of the Working Group of the Task Force on Telecommunications Policy. Folder- Telecommunications Policy- Working Group, Box 9, Wendell W. Gunn Files, Ronald Reagan Presidential Library. Which of the following was a liability for President Obama as he entered his reelection campaign of 2012? Group 2: Social Issues and the Judicial Battle. In response to the deaths of six soldiers, Reagan ordered U.S. warships to shell the camps of anti-American militias. Democrats are quick to point out that Carters decision to halt inflationary measures as well as the normal business cycle were part of the reason the economy recovered during the 1980s. Critics of the California movie star claimed that Reagans rhetoric was hollow and clichd, even if it was uplifting. However, cuts to Social Security and Medicare provoked outrage, and Reagan quickly reversed course. This reduction of income could only be offset by equal reductions to the federal budget, borrowing money, or a massive economic boom that created so much taxable wealth that the government still took in more money each year. 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