Reagan Administration (jan 1, 1981 – jan 1, 1989)
Description:
Greatest debt accumulation in history.Here are the reasons:
1) Tax cut --> top marginal rate went from 70% to 38%
2) Expansion of Carter's military spending
3) Higher interest rates
Added to timeline:
Date:
jan 1, 1981
jan 1, 1989
~ 8 years