A True American Hero
BY: Aubrey Cronin & Ian McGregor
About Ronald Reagan 40th President
Born- February 6th, 1911
Died- June 5th 2004 First term, 1981–1985 To date, Reagan is the oldest man elected to the office of the presidency (at 69). In his first inaugural address on January 20, 1981, which Reagan himself wrote, he addressed the country's economic malaise arguing: "In this present crisis, government is not the solution to our problems; government is the problem."Assassination attempt Main article: Reagan assassination attempt On March 30, 1981, only 69 days into the new administration, Reagan, his press secretary James Brady, Washington police officer Thomas Delahanty, and Secret Service agent Timothy McCarthy were struck by gunfire from would-be assassin John Hinckley, Jr. outside the Washington Hilton Hotel. Although "close to death" upon arrival at George Washington University Hospital, Reagan was stabilized in the emergency room, then underwent emergency exploratory surgery. He recovered and was released from the hospital on April 11, becoming the first serving U.S. President to survive being shot in an assassination attempt. The attempt had great influence on Reagan's popularity; polls indicated his approval rating to be around 73%. Reagan believed that God had spared his life so that he might go on to fulfill a greater purpose.Air traffic controllers' strikeMain article: Professional Air Traffic Controllers Organization (1968)In summer 1981 PATCO, the union of federal air traffic controllers went on strike, violating a federal law prohibiting government unions from striking. Declaring the situation an emergency as described in the 1947 Taft–Hartley Act, Reagan stated that if the air traffic controllers "do not report for work within 48 hours, they have forfeited their jobs and will be terminated". They did not return and on August 5, Reagan fired 11,345 striking air traffic controllers who had ignored his order, and used supervisors and military controllers to handle the nation's commercial air traffic until new controllers could be hired and trained. As a leading reference work on public administration concluded, "The firing of PATCO employees not only demonstrated a clear resolve by the president to take control of the bureaucracy, but it also sent a clear message to the private sector that unions no longer needed to be feared.""Reaganomics" and the economyMain article: ReaganomicsDuring Jimmy Carter's last year in office (1980), inflation averaged 12.5%, compared with 4.4% during Reagan's last year in office (1988). During Reagan's administration, the unemployment rate declined from 7.5% to 5.4%, with the rate reaching highs of 10.8% in 1982 and 10.4% in 1983, averaging 7.5% over the eight years.Reagan gives a televised address from the Oval Office, outlining his plan for Tax Reduction Legislation in July 1981Reagan implemented policies based on supply-side economics and advocated a classical liberal and laissez-faire philosophy,seeking to stimulate the economy with large, across-the-board tax cuts. He also supported returning the U.S. to some sort ofgold standard, and successfully urged Congress to establish the U.S. Gold Commission to study how one could be implemented. Citing the economic theories of Arthur Laffer, Reagan promoted the proposed tax cuts as potentially stimulating the economy enough to expand the tax base, offsetting the revenue loss due to reduced rates of taxation, a theory that entered political discussion as the Laffer curve. Reaganomics was the subject of debate with supporters pointing to improvements in certain key economic indicators as evidence of success, and critics pointing to large increases in federal budget deficits and the national debt. His policy of "peace through strength" (also described as "firm but fair") resulted in a record peacetime defense buildup including a 40% real increase in defense spending between 1981 and 1985.