(Chapter 31) From “the Age Of Limits” To The Age Of Reagan

The Strategic Defense Initiative (SDI), also known as Star Wars, is a proposed defense system that aims to use lasers and satellites to protect against incoming missiles. The system is believed to be capable of providing an effective shield, which would render nuclear weapons obsolete.

1976 Carter wins presidential election by offering honesty, piety, and an outsider’s skepticism of the federal government.

Gorbachev introduced two new ideas during his leadership: glasnost, which means openness and transparency, and perestroika, which means reform. These concepts aimed to bring about political and economic changes in the Soviet Union. Glasnost allowed for more freedom of speech, press, and political expression, while perestroika focused on restructuring and modernizing the Soviet economy. These ideas were significant in bringing about a more open and reformed society in the Soviet Union.

The Tax Revolt refers to the first successful tax revolt, which occurred with the passage of Proposition 13. This was a referendum question on the state ballot that aimed to reduce property tax rates. The members of the right-wing movement were able to separate the issue of taxes from the issue of what the taxes supported, leading to a significant reduction in property taxes. This revolt marked a turning point in public sentiment towards taxes and had a lasting impact on tax policies in the United States.

Supply-side economics is an economic theory that suggests reducing taxes for the wealthy and big corporations in order to stimulate economic growth and encourage new investments. The idea behind this theory is that by reducing taxes, individuals and businesses will have more money available to invest, which will lead to increased production, job creation, and overall economic prosperity. This approach focuses on the supply side of the economy, believing that by incentivizing investment and production, it will ultimately benefit the entire economy.

During the hostage crisis, Ayatollah Khomeini led a revolution in Iran while the Shah was in New York for medical treatment. As a result, the Iranians seized the US embassy in Tehran and held 53 US diplomats and military personnel hostage for 444 days. The Iranians demanded the return of the Shah in exchange for releasing the hostages, but the US refused to comply.

comes in after Watergate scandals and facing major economic difficulty.
He establishes himself as symbol of political integrity but this is nixed when he pardons Richard Nixon (gives him a full pardon). Ford’s popularity will never recover.

1974-75 major energy crisis – OPEC (Oil Producing Energy Company) raises price of oil by 400%.

Carter’s most frequent campaign promise was a new American foreign policy based on the defense of human rights.
HE completes negotiations to turn Panama Canal over to Panama.
His greatest success is the arranging a peace treaty between Egypt and Israel (Camp David Accords).
During his tenure US and China resume formal diplomatic relations.

During the Campaign of 1980, Ronald Reagan emerges as a strong critic of federal government excesses and promises significant tax cuts and a restoration of American pride. This suggests that Reagan's campaign focused on reducing the size and influence of the government, advocating for lower taxes, and promoting a sense of national pride. This message resonated with many Americans who were dissatisfied with the perceived overreach of the federal government and the economic challenges of the time.