REMEMBERING NON-REVISED HISTORY: SEPTEMBER 2, 2013

Ronald Wilson Reagan

Fortieth President of the United States (1981–1989)
33rd Governor of California (1967–1975)
Radio, Film and Television Actor

On ‘Government Dependence/Welfare’

Biography

Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was the 40th President of the United States (1981–1989). Prior to that, he was the 33rd Governor of California (1967–1975), and a radio, film and television actor. As president, Reagan implemented sweeping new political and economic initiatives. His supply-side economic policies, dubbed "Reaganomics", advocated reducing tax rates to spur economic growth, controlling the money supply to reduce inflation, deregulation of the economy, and reducing government spending. In his first term he survived an assassination attempt, took a hard line against labor unions, and ordered an invasion of Grenada. He was re-elected in a landslide in 1984, proclaiming that it was "Morning in America". His second term was primarily marked by foreign matters, such as the ending of the Cold War, the 1986 bombing of Libya, and the revelation of the Iran-Contra affair. Publicly describing the Soviet Union as an "evil empire", he supported anti-communist movements worldwide and spent his first term forgoing the strategy of détente by ordering a massive military buildup in an arms race with the USSR. Reagan negotiated with Soviet General Secretary Mikhail Gorbachev, culminating in the INF Treaty and the decrease of both countries' nuclear arsenals.

Reagan left office in 1989. In 1994, the former president disclosed that he had been diagnosed with Alzheimer's disease earlier in the year; he died ten years later at the age of 93. A conservative icon, he ranks highly in public opinion polls of U.S. Presidents and is credited for generating an ideological renaissance on the American political right. » Full Bio

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This Day In History 224 Years Ago
American Revolution - September 2, 1789

Congress Founds U.S. Treasury

On this day in 1789, the United States Treasury Department is founded.

The institution's roots can be traced to 1775, when America's leaders were looking for ways to fund the Revolutionary War. Their solution--issuing cash that doubled as redeemable "bills of credit"--raised enough capital to fuel the revolution. but also led to the country's first debt. The Continental Congress attempted to reign in the economy, even forming a pre-Constitutional version of the Treasury. Neither this move, nor the signing of the Declaration of Independence, which enabled the U.S. to seek loans from foreign countries, proved effective. The debt kept mounting, while war notes rapidly deflated in value. » Full Article

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