-
eleceted president
Reagan is elected president in a landslide victory over incumbent Jimmy Carter. -
sworn in as pres
Reagan is sworn in as the 40th president of the United States. On the same day, Iran releases the 52 remaining hostages who had been held at the U.S. embassy in Tehran for 444 days. -
Shot in Chest
Reagan is shot in the chest upon leaving a Washington hotel but makes a full recovery after surgery. Three other people, including Reagan press secretary James Brady, are wounded in the assassination attempt. John Hinckley Jr. is charged but found not guilty by reason of insanity. -
cuts in social programs and taxes, and increases in defense spending.
Reagan appears before Congress for the first time since the assassination attempt. He receives a hero's welcome and overwhelming support for his economic package, which includes cuts in social programs and taxes, and increases in defense spending. -
Tax bill passes
Congress passes Reagan's tax bill. Instead of a 30% tax cut over three years, Reagan accepts 25%. -
air traffic strike
Air traffic controllers go on strike. Reagan gives them 48 hours to get back to work, and fires those who refuse. -
O'Connor appointed
eagan appoints Sandra Day O'Connor as the first female justice on the U.S. Supreme Court. -
slight recession
Reagan concedes that the United States is in "a slight recession" but predicts recovery by the spring. -
David Stockman charges growth rate
Budget Director David Stockman charges that the 5% economic growth rate that the administration had assumed was a "rosy scenario," and pans "supply side" economics as a way to benefit the rich. -
Star wars plan
Reagan unveils his proposal for a Strategic Defense Initiative, later dubbed "Star Wars," in a national speech: "I call upon the scientific community in our country, those who gave us nuclear weapons, to turn their great talents now to the cause of mankind and world peace, to give us the means of rendering these nuclear weapons impotent and obsolete." -
Grenada invasion
U.S. troops invade Grenada to oust Marxists who had overthrown the government, and to protect U.S. medical students on the Caribbean island.