The presidency of Ronald Reagan began at noon EST on January 20, 1981, when Ronald Reagan was inaugurated as the 40th President of the United States, and ended on January 20, 1989. Reagan, a Republican from California, took office following a landslide victory over Democratic incumbent President Jimmy Carter in the 1980 presidential election. Reagan never submitted a balanced budget during his time in office. Though it was attacked by conservatives like Jesse Helms, the INF Treaty provided a major boost to Reagan's popularity in the aftermath of the Iran–Contra Affair. A new era of trade and openness between the two powers commenced, and the U.S. and the Soviet Union cooperated on international issues such as the Iran–Iraq War. When Reagan visited Moscow for a fourth summit with Gorbachev in 1988, he was viewed as a celebrity by the Soviets. Collapse of an Empire: Lessons for Modern Russia (in Russian). Brookings Institution Press.
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