Lapansky-Werner et al.     740     The Conservative Resurgence (1980-1993) - Into a New Century (1992-today)

• During the 1964 election, the conservatives reached a low point following the landslide loss by Republican nominee Barry Goldwater.
• Afterwards the Republican party set out to make itself strong again as they set out to build an organization and make their ideas a reality.
• During the 1980's they achieved their goals and Ronald Reagan became president and put the Republican party back in power.

Lapansky-Werner et al.     743     The Conservative Resurgence (1980-1993) - Into a New Century (1992-today)

• As a candidate for president, Reagan made sure to be against big government which was mostly found in the communist countries of the days, as well as to be for traditional values of the past.
• In the 80's most of the United States was moving back towards conservatism which held most of its deep roots in the market economy type branch.

Lapansky-Werner et al.     745-746     The Conservative Resurgence (1980-1993) - Into a New Century (1992-today)

• Reagan and his advisers based their economic policies on the theory of "supply-side economics" which rests on the assumption that if taxes are reduced, people will work more and have more money to spend which will improve economic growth.
• Reagan called for deregulation of the government in early 80's in order to prevent the government to have anymore control over industry than what was really needed.

Lapansky-Werner et al.     746     The Conservative Resurgence (1980-1993) - Into a New Century (1992-today)

• Reagan increased defense spending but failed to win huge cuts in government spending in other areas. This caused the federal budget deficit, or the shortfall between the amount of money brought in with the amount spent.