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Period: to
Social housing
1970 - 2.4 million low-income housing available to families that applied for them
1985 - 3.7 million families who qualified for low-income housing but there were none available 1978 - federal spending on low-income housing schemes was $32.2 billion
1988 - federal spending on low-income housing schemes was $9.2 billion
This lead to an increase number of homeless people -
Period: to
Leisure time
1973 - workers had an average of 26 hours a week
1987 - this was 16 hours a week
This was due to deregulation on working conditions so there were longer working hours -
Period: to
Inflation rates
11.3% in 1979
13.5% in 1980
6.2% in 1982
By 1996 never reached double figures -
1979 Public opinion poll
Showed for the first time, a majority of Americans thought their children's lives would be worse than their own. Even during Watergate only 30% thought this. -
Period: to
Unemployment rates
7.1% in 1980
9.6% in 1983 -
Reagan elected President
He was a committed Christian. Helped to power by a significant amount of conservative coalition support from the religious right. -
Period: to
1981-82 recession and aftermath
1981-82 recession lead to many small businesses collapsing. However Reagan stated 500,000 new ones had been set up in each of these years.
In 1983, during small business week, Reagan said he was helping small businesses with tax breaks, allowing them to pay personal tax not corporate tax.
Reagan's policies helped big businesses as they profited from reduced federal regulation on wages, working hours/conditions. Deregulation also meant they could buy up or merge with other businesses. -
Reagan sworn in as president
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Presidential executive orders
Fuel prices deregulated
Wage and price regulations removed -
Economic Policy Advisory Board set up
-
Executive order sets up the President's Council on Integrity and Efficiency
-
Assassination attempt on Reagan
Wounded in the chest -
Presidential Advisory Committee on Federalism set up
-
First AIDS cases reported in USA
-
President's Commission on Housing set up
To investigate all aspects of housing but mainly to find ways of saving money on federal low-cost housing schemes -
Deregulation of controls on fuel prices
-
PATCO air traffic controllers' strike
All sacked after Reagan threaten for them to return to work within 48 hours calling the strike illegal -
Economic Recovery Tax Act (ERTA) passed
1 amendment by the Senate
Far more difficult to get through the House, saw many changes -
Omnibus Budget Reconciliation Act (ORA) passed
No changes by Senate
Few revisions by the house -
Sandra Day O'Connor appointed as the first female Supreme Court judge
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Tax Equity and Financial Responsibility Act (TEFRA)
Changes to the budget in response to the economic situation.
Tightens tax rules especially on businasses. -
Bus Regulatory Reform Act
Deregulates bus services -
Job Training Partnership Act
Shifts job training from federal hands to state and private schemes
Removed the need for trainees to have their incomes made up to the minimum wage -
Garn St Germain Depository Institution Act
Savings and Loan institutions deregulated, allows them to invest in more ventures including property speculation -
Deregulation of natural gas supplies
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Social Security Reform Bill
Delayed the linking of payments to inflation from July to December
Made part of benefit payments taxable
Changed the earnings test for eligibility -
Period: to
Homelessness
1984 - federal spending on the homeless was $300 million
1988 - federal spending on the homeless was $1.6 billion The 1987 McKinney Act set up the Federal Emergency Management Food and Shelter Program to be run by the Federal Emergency Management Agency (FEMA) -
Shipping Act
Loosens regulations on US and foreign shipping -
Cable Communications Act
Deregulates cable communications -
Reagan wins a second term
Aged 73 -
Period: to
Protests by garment workers
This was over foreign imports which increased as the dollar weakened
Between 1980 and 1985 about 250 textile plants were forced to close and over 300,000 workers lost their jobs -
Food Security Act
Reagan was persuaded to do this by Congress, he made it clear this help was an exception forced on to him by Congress
Gave federal help to farmers who were struggling due to falling prices and the falling value of farmland -
Consolidated Omnibus Budget Reconciliation Act (COBRA)
Revises the budget in minor ways to save federal government money and moves costs to state or private bodies.
Shifts the responsibility for many healthcare payments from the federal government to the employer. -
Tax Reform Act passed
-
Tax Reform Act
Reduces the number of tax brackets, supposed to close a lot of tax evasion loopholes and ease pressure on poorer families. -
Surface Freight Forwarder Deregulation Act
Allowed greater freedoms to truck drivers to bundle several loads into 1 -
Period: to
Extent of Savings and Loan crisis becomes clear
Leads to a government bailout -
McKinney Vento Homeless Assistance Act
Set up the Federal Emergency Management Food and Shelter Program to be run by the Federal Emergency Management Agency (FEMA) -
Competitive Equality in Banking Act passed
Provided money to cover that lost by closed S&Ls. Wasn't enough, by 1988 S&Ls had lost $ 10 billion. Then in 1989 the property market collapsed.
In 1989, Bush had to sign the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), this bailed out some failing organisations, closed others and set up new federal regulators, at the cost or $150 billion. -
Report in finance magazine
Stated Britain was getting the colonies back by buying them back as foreign companies started to buy out American companies -
Foreign Trade and Competitiveness Act
Allows the president more rights in making trade treaties to benefit the USA -
Family Support Act
A family is only eligible for benefits if at least one parent is working for at least 16 hours a week
Single parents were expected to finish education and undergo job training
The state was to provide childcare -
George H.W. Bush elected president
The Republican candidate
However Democrats are now in charge of both houses of Congress
Only just won the election so general support was lukewarm. -
Reagan farewell speach
-
Bush breaks his 'no new taxes' promise
-
Bill Clinton elected president
The Democratic candidate
Campaign focused on low inflation; high employment; a reduced deficit; no tariffs to regulate business/trade though wanted increasing welfare and medical care and 'investing in people'