What Is Your Thoughts on Reaganomics?

No, your FIL is not correct. President Reagan introduced a very different economic platform than the previous presidents -- and, thus, was named for him, "Reaganomics." The name is not mocking...it refers to his specific economic policy. The critics of Reaganonics referred to his policy as "trickle-down economics."

1.Reduce Growth of Government spending.
2.Reduce Income Tax and Capital Gains Tax.
3.Reduce Government regulation.
4.Control the money supply to reduce inflation.

The idea of curbing the growth of government spending and reducing government regulation sounds pretty good to me.

Take a read:
http://en.wikipedia.org/wiki/Reaganomics

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Considering that our current economic climate is a direct result of supply-side/trickle-down/Reaganomics, no, it did not work. Reagan talked about reducing the size of the government, but hard facts show that this was not the case. Size of government increased (keep in mind that increasing the military counts as increasing the size of the government), which is not always a bad thing, but he also reduced taxes on the wealthiest Americans and corporations, which made the increased size of the government a problem. Combine huge tax cuts for the top tax brackets with reduced or eliminated regulation over certain industries (a policy continued by Bush 1, Clinton, Bush 2, and now Obama), and here we are today. The economy is in a shambles and likely will be for a while because our legislators still don't get it.

So, just my opinion, yes, the term Reaganomics is meant to mock President Reagan's policies, and the mockery is well-deserved.

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I was in high school during Reagan's years and I don't think that term was viewed as negative by everyone. I hated just about everything about Reagan, including the way he treated poor people, but Reaganomics was a term pretty much used by all. Had to do with making the rich richer and the money would then supposedly trickle down to the poor.

Do I think it worked? Absolutely not. My grandparents were poor and he made them worse off. Those were terrible years. I remember watching my grandma cry when Reagan said on TV he was cutting a vital service they needed. I don't think there's a poor person who would say that anything trickled down to them during those years.

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What Catherine C said. Exactly.

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It's called "supply side economics" by people who liked it or benefited from it and "trickle-down econimics" by those that did not.

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Bruce Bartlett was Reagan's domestic policy advisor and one of the originators of Reaganomics -- he's a conservative economist. He has written a book saying that Reaganomics has ultimately failed.

http://www.amazon.com/New-American-Economy-Failure-Reagan...

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Added for your "what happened" question:
It is too simplistic to say an unqualified 'yes' or 'no'. They are a lot of factors to consider. Check out this link to read pros and cons. It's much better to look at the overall view rather than just listen to opinions. The opinions usually leave out a lot of 'food for thought'.

http://www.youdebate.com/DEBATES/REAGANOMICS.HTM

Enjoy!

Original:
Here is something for you to think about when deciding whether or not the term Reaganomics was used in mockery - make sure you read to the end for WHO called Reaganomics "voodoo economics".

"What Does Reaganomics Mean?
A popular term used to refer to the economic policies of Ronald Reagan, the 40th U.S. President (1981–1989), which called for widespread tax cuts, decreased social spending, increased military spending, and the deregulation of domestic markets. Investopedia explains Reaganomics
The term was used by supporters and detractors of Reagan's policies alike. Reaganomics was partially based on the principles of supply-side economics and the trickle-down theory. These theories hold the view that decreases in taxes, especially for corporations, is the best way to stimulate economic growth: the idea is that if the expenses of corporations are reduced, the savings will "trickle down" to the rest of the economy, spurring growth.

Prior to becoming Reagan's Vice President, George H. Bush coined the term "voodoo economics" as a proposed synonym for Reaganomics."

Reagan liked the term "Reaganomics" much better, I am quite sure!

D.

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Reganomics can be good or bad depending on whether you think it worked or not.

In my opinion it worked, personal wealth grew across the board. Still it is one of those things that if you don't like conservatives you attribute that wealth to something else.

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To democrats and welfare addicts it was a mockery.

To republicans it was a term meaning reduced welfare rolls, reduced taxes and reduced non-military government.

I was in college when Reagan was the Governor of California. My college costs and taxes went up because of Reagan. When he was President I was out of college and making a living and he reduced my taxes, cut the welfare rolls and reduced the size of the non-military government. To me, Reagan was America's best president since Teddy Roosevelt.

I was poor when he was in office (and still am). He reduced my taxes and reduced the welfare rolls. He beat the Russian government economically and caused them to tear down the Berlin Wall. The Iranians were so scared of him they released the hostages when he became president. They just laughed at Carter who was a joke as president.

Johnson pushed through the "Great Society" (welfare) and said we would never spend more than $30 million a year on it. We now spend more than $30 million a minute on Johnson's "Great Society" programs. And our deficits and taxes have gone up to pay for it. Reagan tried to cut it back.

I could write pages, but this is the wrong forum.

Good luck to you and yours.

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I have heard of this term before...I dont know much about it but just did some fast looking and reading online...I dont really agree with what I read of his economic handling...

I am not at all impressed though on our own economic handling...and I am a very Liberal Dem. I think that we have spent alot of money where we didnt need to and not enough where it should be spent...My big one is Education....where has all our money gone on that matter?? My district alone is having to have all the teachers reapply so they can cut 75 jobs....teachers that we need...our school system is over crowded and under paid in my mind...

I will hop off my soap box...I think we need to not go into the past to fix our future.

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Reagonomics - he took a mess and finessed it....we were STRONG financially and in many other ways when Reagan was President. It's easier to mock him than to study it and take from it and learn from it....

Was he a perfect President? heck no. did he believe in fast fixes? Nope. but he worked with what he had and made it better.

Reagan did NOT triple our national debt in two years.
Reagan did NOT campaign to get out us of wars and sign us up for another one and send more of our men over....

Did he do some underhanded things in regards to weapons? Probably.

What's the point? Those who do not learn from the past are doomed to repeat it.

Do I think it worked?! HECK YEAH!! Reagan believed in a smaller more efficient government.
Reagan believed in EARNING what you got and not it being handed to you..
Reagan reduced the welfare "role" and people were pissed - they weren't living off other people's money anymore...they actually had to perform.

those who believe in fast fixes and 'hope and change'...how's that working out for you now?

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Reganomics = Obamacare.

Not a real term, just a term coined by the media cuz it's catchy and incites emotion. it also represents what that president did in that particular area and since it was unlike what anyone else had done, they got 'credit'.

If you believe in the philosophies of Reagan, then Reganomics is used as a derogatory slam from people who don't agree with you.

If you believe in the philosophies of Obama, then Obamacare is used as a derogatory slam from people who don't agree with you.

But if you believed in their philosophies you understand that Reagan, like Obama, didn't just follow the status-quo philosophies set out before them. The came up with something different.

If you benefit, then you like it.

If you didn't benefit, then you don't like it.

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