Economy
Gas
Car
House
Income
1980
1989
$1.03
$1.08
$5,413
$8,243
$86,159
$124,348
4
$11,321
$14,347
All numbers are approximations
Big Jobs:
Government Roles
Service Companies
Tech. Manufacturers
Legal Roles
Overview:
-Public debt rose from 26%GDP to 41%GDP
-Unemployment fell from 7% to 5.4%
-Inflation fell from 10% to 4%
Reaganomics:
"Only by reducing growth of government can we increase growth of economy" - Ronald Reagan
Reaganomics was the nickname used for Reagan's economic policy which called for widespread tax cuts, decreased social spending, increased military spending, and the deregulation of domestic markets.