How did Ronald Reagan hope to help the economy with their Reaganomics
1 answer
Ronald Reagan hoped to help the economy with Reaganomics by implementing a combination of fiscal and monetary policies that revolved around the principles of supply-side economics. This included reducing taxes, reducing government regulation, controlling inflation, and increasing government spending on defense and infrastructure projects. Reagan believed that by reducing taxes and regulations, businesses would have more incentive to invest and create jobs, which would stimulate economic growth and increase government revenue in the long run. Additionally, he believed that controlling inflation and increasing government spending on defense would help stabilize the economy and promote national security. Ultimately, Reaganomics aimed to achieve economic growth, lower inflation, and reduced unemployment through a combination of tax cuts, deregulation, and increased government spending.