Reagan: Recession (1 janv. 1981 – 1 janv. 1982)

Description:

Cause:

1. tight monetary policy in an effort to fight mounting inflation
2. Reagan’s tax cuts
3. large increased in military spending

Effect:

1. unemployment rate had averaged slightly higher
2. productivity growth lower
3. private investment as a percentage of GDP slightly less
4. US trade deficit reached a staggering $150 billion a year
5. US became a debtor nation
6. national debt tripled from $900 billion to $2.7 trillion

Ajouté au bande de temps:

Date: