What was Reaganomics?
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Reaganomics is the name given to Ronald Reagan’s economic policies, which included broad tax cuts, cuts in social programs, and increases in defense spending. Reagan came into office with the mantra: “government isn’t the solution to our problems, government is the problem.” He believed in supply-side economics, reducing government taxes on business that would allow the private sector to grow the economy. Critics charged that Reaganomics favored the rich to the detriment of the poor and constituted a form of “trickle down” economics.