United States federal budget in the context of "Reaganomics"

Play Trivia Questions online!

or

Skip to study material about United States federal budget in the context of "Reaganomics"

Ad spacer

⭐ Core Definition: United States federal budget

The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs.

The non-partisan Congressional Budget Office provides extensive analysis of the budget and its economic effects.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<

👉 United States federal budget in the context of Reaganomics

Reaganomics (/rɡəˈnɒmɪks/ ; a portmanteau of Reagan and economics attributed to Paul Harvey), or Reaganism, were the neoliberal economic policies promoted by Ronald Reagan, president of the United States from 1981 to 1989. These policies focused mainly on supply-side economics. Opponents (including some Republicans) characterized them as "trickle-down economics" or Voodoo Economics, while Reagan and his advocates preferred to call it free-market economics.

The pillars of Reagan's economic policy included increasing defense spending, slowing the growth of government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation.

↓ Explore More Topics
In this Dossier

United States federal budget in the context of Military budget of the United States

The military budget of the United States is the largest portion of the discretionary federal budget allocated to the Department of Defense (DoD), or more broadly, the portion of the budget that goes to any military-related expenditures. It pays the salaries, training, and health care of uniformed and civilian personnel, maintains arms, equipment and facilities, funds operations, and develops and buys new items. The budget funds six branches of the US military: the Army, Navy, Marine Corps, Coast Guard, Air Force, and Space Force.

↑ Return to Menu

United States federal budget in the context of State of the Union

In the United States, the State of the Union Address (sometimes abbreviated to SOTU) is an annual message delivered by the president of the United States to a joint session of the United States Congress near the beginning of most calendar years on the current condition of the nation. The speech generally includes reports on the nation's budget, economy, news, agenda, progress, achievements and the president's priorities and legislative proposals.

The address fulfills the requirement in Article II, Section 3, Clause 1 of the U.S. Constitution for the president to periodically "give to the Congress Information of the State of the Union, and recommend to their Consideration such Measures as he shall judge necessary and expedient". During most of the country's first century, the president primarily submitted only a written report to Congress. After 1913, Woodrow Wilson, the 28th U.S. president, began the regular practice of delivering the address to Congress in person as a way to rally support for the president's agenda, while also submitting a more detailed report. With the advent of radio and television, the address is now broadcast live in all United States time zones on many networks.

↑ Return to Menu

United States federal budget in the context of Ron Paul 1988 presidential campaign

The Ron Paul presidential campaign of 1988 began in early 1987 when former Congressman Ron Paul of Texas announced his candidacy for the 1988 presidential nomination of the Libertarian Party. He joined the third party after leaving the Republican Party over the Reagan administration's handling of the federal budget. He ran on a platform that included non-interventionism in foreign conflicts, decriminalization of illegal drugs on a federal level, a return to the gold standard, the abolition of the Federal Reserve and a reduction in all government spending.

Paul defeated Native American activist Russell Means at the Libertarian Party's National Convention in Seattle to win the party's presidential nomination. Former Alaska State representative Andre Marrou was selected as his running mate. After over a year of campaigning as the Libertarian Party nominee, Paul received very little media coverage and was excluded from presidential debates. On Election Day, he was on the ballot in 46 states and the District of Columbia, and finished in third place with approximately 0.5% of the vote, behind Democratic candidate Michael Dukakis and the winner Vice President George H. W. Bush.

↑ Return to Menu

United States federal budget in the context of Tea Party movement

The Tea Party movement was an American fiscally conservative political movement within the Republican Party that began in 2007, catapulted into the mainstream by Congressman Ron Paul's presidential campaign. The movement expanded in response to the policies of Democratic president Barack Obama and was a major factor in the 2010 wave election in which Republicans gained 63 House seats and took control of the U.S. House of Representatives.

Participants in the movement called for lower taxes and for a reduction of the national debt and federal budget deficit through decreased government spending. The movement supported small-government principles and opposed the Affordable Care Act (also known as Obamacare), President Obama's signature health care legislation. The Tea Party movement has been described as both a popular constitutional movement and as an "astroturf movement" purporting to be spontaneous and grassroots, but alleged to have been influenced by outside interests. The movement was composed of a mixture of libertarian, right-wing populist, and conservative activism. It sponsored multiple protests and supported various political candidates since 2009. The movement took its name from the December 1773 Boston Tea Party, a watershed event in the American Revolution, with some movement adherents using Revolutionary era costumes.

↑ Return to Menu

United States federal budget in the context of Taxpayer March on Washington

The Taxpayer March on Washington (also known as the 9/12 Tea Party) was a Tea Party protest march from Freedom Plaza to the United States Capitol held on September 12, 2009, in Washington, D.C. The event coincided with similar protests organized in various cities across the nation. The protesters rallied against what they consider big government, the dismantling of free market capitalism, abortion, and President Barack Obama's proposals on health care reform, taxation, and federal spending, among other issues.

The lead organizer of the event was Brendan Steinhauser, who was serving as the Director of Federal and State Campaigns for FreedomWorks. Organizers of the event included the 9-12 Project, FreedomWorks, the National Taxpayers Union, The Heartland Institute, Americans for Tax Reform, Tea Party Patriots, ResistNet and Americans for Prosperity. The event was also promoted by Fox News commentator Glenn Beck as a symbol of what he called "national unity" following the eight-year anniversary of the September 11 attacks. The march is the largest gathering of fiscal conservatives ever held in Washington, D.C., and was the largest demonstration against President Obama's administration.

↑ Return to Menu

United States federal budget in the context of List of Tea Party politicians

The following American politicians were affiliated with the Tea Party movement, which was generally considered to be conservative, libertarian-leaning, and populist. The Tea Party movement advocated for reducing the U.S. national debt and federal budget deficit by reducing federal government spending and taxes. It was not a single, formal political party, but rather represented by activist groups such as the Tea Party Patriots and the Tea Party Express. The Tea Party Caucus served as the main coalition of Tea Party-affiliated representatives and senators in Congress and was often described as having a voting record resembling that of a third party. The Liberty Caucus and Freedom Caucus are closely associated with the Tea Party movement and many members of the Tea Party Caucus shifted to them following its dissolution around 2016. Tea Party members were almost entirely from the Republican party although attracted support from the Libertarian party as well; the following list of politicians were members of the Republican Party while in office unless otherwise noted.

↑ Return to Menu