A Conservative Revival and the End of the Cold War, Trever Buonomo Tommy Oristian

Transcription

1 A Conservative Revival and the End of the Cold War, Trever Buonomo Tommy Oristian

2 A Conservative Shift Starting in the 1950's conservatism became a popular ideal among many. As conservatives started to join together they mobilized on certain issues including: A constitutional amendment outlawing abortion. Although the law would never come, conservatives got congress to stop Medicaid from covering it, making the procedure nearly impossible to afford for many lower class citizens. That gay and lesbian activism would result in society's moral collapse. Riots erupted in San Francisco after a member of the board of supervisors shot a gay activist and board member Harvey Milk and got a "light" sentence of 30 years. In 1980 the conservatives won a major victory. President Reagan had been elected as president. Reagan embraced conservative ideals, and denounced campus demonstrators, although he was open to compromise.

3 Reagan's Political Agenda Once in office Reagan seemed to ignore the conservative agenda that he had supported throughout his campaign. Instead he promoted his economic and political program which was not the most widely supported program out their. Reagan's plan was that if taxes were cut there would be less restrictions preventing economic growth. Then the economy would grow providing more tax revenue. Congress would not vote the 30% Reagan proposed but did vote a 25% tax cut. Reagan did not have much sympathy for organized labor, and in 1981 when PATCO went on strike and would not return to work Reagan fired all of them and prohibited them from holding any federal jobs. Reagan also influenced the Supreme Court, electing the first female justice, and two other justices between 1981 and 1987

4 America's Economic Situation in the 1980's As a result of the countries continuing inflation rates the federal reserve pushed up interest rates to combat it. Combined with falling oil prices inflation was slowed, but it brought upon a recession. Unemployment rates went up to 10% by In response Reagan cut military funding and instituted emergency job programs and increased taxes. The recession hurt Reagan's reputation causing democrats to gain some more popularity in the 1982 midterm elections. In 1983 the economy rebounded causing the stock market to surge. Money managers as they were called like Ivan Boesky became celebrities out of their wealth. Brokerage firms like that of E. F. Hutton gained numerous investors. In 1985 E. F. Hutton and its officials plead guilty to illegal fund manipulation, and Ivan Boesky went to prison for insider trading a year later. The stock market soon crashed in 1987 decreasing stocks by 20% overnight. Thankfully the market recovered but cost many stock holders a considerable amount of money.

5 The Cold War Heats Up Soviets shoot down Korean passenger plane, killing all 269 on board. Reagan expands military with 300 billion dollar budget increase by 1985 Funding of the Salvadorian military junta that lead the suppression of the insurgency supported by Fidel Castro s Cuba. Reagan also funds Islamic fighters attempting to expel soviets called the Mujahadeen Also ironically funded by Osama Bin Laden

6 Tensions Ease Meetings in Europe in 1985 and 1986 begin the easing of tensions between US and Soviet Union, disarming on both sides ensue Intermediate range Nuclear Forces Treaty, (INF) eliminates 2500 hundred U. S. and Soviet missiles from Europe Reagan takes trip to Moscow to bring the beginning of the end to the Cold War

7 New President, New War George H. W. Bush elected in 1988 to presidency Similar to Reagan in his proclamations for no new taxes, however he would not keep these promises later on August 2, 1990 Saddam Hussein's forces invade neighbor Kuwait to begin Persian Gulf War January 16, 1991 America becomes involved with dropping bombs on Iraqi forces February 23, ,000 American troops mobilize towards Kuwait and force Iraqi troops to run away or surrender