In a sweeping victory, Ronald Reagan (R) defeated incumbent Jimmy Carter (D). Reagan, the 40th president, also demonstrated long coat-tails, as the Republican Party took over the Senate for the first time since 1954. Amid a climate of high inflation, low inflation, and waning patriotism, President Reagan pledged to restore the nation's economic and military greatness. Reagan was a proponent of small government. And he championed local sovereignty, minimal federal regulation, and low taxation. Reagan also possessed an unwavering faith in the rejuvenating power of an unfettered free-market system. Reagan was also a staunch anti-communist. On 30 March 1981, Reagan was wounded in a botched assassination attempt. His good humour and …
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Citation: Richert, Lucas Paul. "Presidency of Ronald Reagan". The Literary Encyclopedia. First published 01 October 2008 [https://staging.litencyc.com/php/stopics.php?rec=true&UID=972, accessed 26 November 2024.]