The POTUS Timeline
President #40

Ronald Reagan

Ronald Reagan was the 40th president of the United States, serving two terms from January 1981 to January 1989. A former actor and governor of California, he promoted conservative economic policies and a firm stance against the Soviet Union.

Legacy Summary

Reagan pursued supply-side economic policies—large tax cuts, deregulation, and shifts in spending—that helped lower inflation and stimulate growth but also coincided with rising federal deficits and greater income inequality.

On foreign policy he combined a military buildup and tough rhetoric toward the USSR with later diplomacy with Mikhail Gorbachev that advanced arms-control agreements; his presidency was also marred by the Iran–Contra affair.

Notable Actions

Enacted major tax cuts with the Economic Recovery Tax Act of 1981; Pursued deregulation and conservative judicial appointments; Increased defense spending and advanced the Strategic Defense Initiative; Negotiated with Mikhail Gorbachev, contributing to U.S.–Soviet arms reductions; Re-elected in a 1984 landslide victory; Administration tarnished by the Iran–Contra affair

Timeline Entries

Key highlights and dated events associated with this presidency.

Showing 12 of 189 entries.

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Reagan addresses the nation following Black Monday market crash
October 20, 1987 • Ronald Reagan
Crisis Response

Reagan addresses the nation following Black Monday market crash

President Reagan made a public statement from the White House on October 20 reassuring Americans that the fundamentals of the U.S. economy remained sound and said his administration was working with financial leaders to stabilize markets after the October 19 crash.

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