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The 1980’s was a decade where many things arose. There was much change and movement in many aspects of this decade. Technology became more advanced. Medicinal research was becoming more superior then it ever had. The Cold War, a lengthy war, was finally nearing an end. Politics had also changed to a more conservative approach. These things and many other events within the decade help create themes that can identify the 80’s. The Rise of technology, The Cold War, conservatism, and materialism are all themes that can help us recognize the 1980’s, and helped shape what America has become today. Conservativism was a reoccurring theme through out this decade. In politics and in economic traditions it came about, similar to the United States in the 1920’s. When Ronald Reagan gained presidency in 1980, he planned to change the way the economy was working. He wanted to change it so that the average consumer would have more money. This theory was also known as “supply-side” economics. Reagan made a reduction in taxes and he lowered the amount of money the government was spending so that people would have more money for themselves. He then hoped that the people would either spend the money to boost the economy, or they could invest their money in business, hoping that the economy would expand. Reagan did not like how many people were dependent upon the government, so he gained approval for cuts in spending on social programs such as job training, college loans, food and medical programs, people with disabilities, child daycare centers, and centers for the elderly. He felt that these weakened the structure of families. He also removed government restrictions for businesses, allowing them to help save money, allowing them to invest in new areas. All of these ideas put together pushed a five-year increase in the stock market. While the stock market boom was going on though, he also did things that did not help. The defense spending increased from $134 billion in 1980, and shot up to $290 in 1988. Since this happened, and the government wasn’t receiving revenues from tax cuts, the budget was hard the balance.
Approximate Word count = 1364
Approximate Pages = 5.5
(250 words per page double spaced)
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