Reagan: Recession (1 янв 1981 г. – 1 янв 1982 г.)

Описание:

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

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