Ronald Reagan (1981-1989)
□ “Reaganomics”- a supply-side economics theory that
involved drastic cuts to both taxes and spending.
□ January 20, 1981: Reagan is sworn in as the 40th president
of the United States. On the same day, Iran releases the
remaining hostages
□ March 30: Reagan is shot by John Hinckley, Jr., outside a
Washington hotel.
□ Reagan appoints the first female Supreme Court Justice,
Sandra Day O'Connor.
□ SDI (Strategic Defense Initiative) or “Star Wars” Initiative- proposed U.S.
strategic defensive system against potential nuclear attacks. Because parts of the
defensive system that Reagan advocated would be based in space, the proposed
system was dubbed “Star Wars,” after the space weaponry of a popular motion
picture of the same name.
1985: January 20: Reagan is sworn in for a second term. At 73 years of age, he is the
oldest president ever to be sworn in.
1986:
□ January 15: Reagan signs legislation making Martin Luther King, Jr.'s, birthday a
national holiday to be celebrated on the third Monday of January.
□ January 28: The U.S. space shuttle "Challenger" explodes only 73 seconds after
takeoff. six astronauts onboard & teacher Christa McAuliffe, the first civilian to
go into space, also perished.
□ Iran-Contra affair- The scandal involved the secret sale of U.S. weapons to Iran
(which was supposed to help in the release of U.S. hostages in the Middle East).
Some of the proceeds from these sales were used to covertly fund the Contra war
in Nicaragua. (to overthrow communists)
1987: June 12: Reagan, in a speech at the Brandenburg Gate, asks Gorbachev to raze
Berlin Wall. "General Secretary Gorbachev, if you seek peace, if you seek prosperity for
the Soviet Union and Eastern Europe, if you seek liberalization: Come here to this gate!
Mr. Gorbachev, open this gate! Mr. Gorbachev, tear down this wall!"
1988: December 21: A Pan Am plane explodes over Lockerbie, Scotland. All 259 people
onboard are killed, as are 11 people on the ground. An investigation revealed that the
explosion was the result of a Libyan terrorist attack.
1993: Reagan is officially diagnosed with Alzheimer’s
2004: Ronald Reagan dies peacefully at his home in California. At age 93, he is the
longest-lived president in American history.
George Herbert Walker Bush (1989-1992)
□ In his inaugural address, he reiterates his call for a
"kinder, gentler America," which many see as a subtle
departure from the Reagan agenda.
□ Nov. 9, 1989- Berlin Wall will begin to be torn down.
□ Bush breaks his “no new taxes” pledge when he agrees to
put taxes on the table in negotiating a budget deal with
congressional Democrats.
□ 1990- Iraqi dictator Saddam Hussein invades neighboring Kuwait in a dispute
over oil fields. George Bush, who came of age during World War II, sees Hussein
in terms of Adolf Hitler and resolves from the start to eject Iraq from Kuwait
entirely, regardless of whether or not force is required.
□ 1991- Jan. 16, Operation Desert Storm begins. The first phase of the war is an air
assault. The ground offensive begins five weeks later and will last only 100 hours
before the decision is made to end the war.
□ February 28: A ceasefire is declared in the Persian Gulf War. On March 3, Iraqi
and coalition military leaders meet to dictate the terms.
□ 1992- November 4: Democratic candidate William J. Clinton defeats Bush and
becomes the 42nd President of the United States.