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Reaganomics

Reaganomics (/rɡəˈnɒmɪks/; a portmanteau of Reagan and economics attributed to Paul Harvey),[1] or Reaganism, were the neoliberal[2][3][4] economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are characterized as supply-side economics, trickle-down economics, or "voodoo economics" by opponents,[5] while Reagan and his advocates preferred to call it free-market economics.

Not to be confused with Reaganism.

The pillars of Reagan's economic policy included increasing defense spending, balancing the federal budget and slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation.[6]


The results of Reaganomics are still debated. Supporters point to the end of stagflation, stronger GDP growth, and an entrepreneurial revolution in the decades that followed.[7][8] Critics point to the widening income gap, what they described as an atmosphere of greed, reduced economic mobility, and the national debt tripling in eight years which ultimately reversed the post-World War II trend of a shrinking national debt as percentage of GDP.[9][10]

During Reagan's presidency, the federal debt held by the public nearly tripled in nominal terms, from $738 billion to $2.1 trillion. This led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation.[9] Reagan described the new debt as the "greatest disappointment" of his presidency.[40]

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The federal deficit as percentage of GDP rose from 2.5% of GDP in fiscal year 1981 to a peak of 5.7% of GDP in 1983, then fell to 2.7% GDP in 1989.

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Total federal outlays averaged of 21.8% of GDP from 1981–88, versus the 1974–1980 average of 20.1% of GDP. This was the highest of any President from Carter through Obama.

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Total federal revenues averaged 17.7% of GDP from 1981–88, versus the 1974–80 average of 17.6% of GDP.

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Federal individual income tax revenues fell from 8.7% of GDP in 1980 to a trough of 7.5% of GDP in 1984, then rose to 7.8% of GDP in 1988.

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Abenomics

Bidenomics

Clintonomics

Mellonomics

Monetarism

Mont Pelerin Society

Economic liberalism

Fiscal conservatism

Neoliberalism

Orbanomics

Phillips curve

Rogernomics

Thatcherism

Marable Manning. (1981) Reaganism, Racism, and Reaction: Black Political Realignment in the 1980s,

Taylor & Francis, Ltd.

Bowser, Benjamin. (1985) Race Relations in the 1980s: The Case of the United States, Sage Publications Incorporated.

The Big Con: Crackpot Economics and the Fleecing of America, 2008, Mariner Books (Re-print edition), ISBN 0547085702

Jonathan Chait

Brian Domitrovic, Econoclasts: The Rebels Who Sparked the Supply-Side Revolution and Restored American Prosperity (Culture of Enterprise Series), 2009, , ISBN 193519125X

Intercollegiate Studies Institute

Up From Conservatism: Why the Right is Wrong for America, 1996, Free Press, ISBN 0684827611

Michael Lind

The Growth Experiment: How the New Tax Policy is Transforming the U.S. Economy, 1990, Basic Books, New York, ISBN 978-0465050703

Lawrence B. Lindsey

Laffer, Arthur. . The Heritage Foundation.

"The four pillars of Reaganomics"

. University of Houston. Archived from the original on July 23, 2010.

"Reaganomics"

Greider, William. "", The Atlantic, December 1981.

The Education of David Stockman

'Reaganomics: A Watershed Moment on the Road to Trumpism'. The Economists’ Voice | Volume 16: Issue 1.<ref><ref>

Reaganomics: A Watershed Moment on the Road to Trumpism