As governor, Reagan raised taxes, turned a state budget deficit to a surplus, challenged the protesters at the University of California, ordered in National Guard troops during a period of protest movements in 1969, and was re-elected in 1970. He twice ran unsuccessfully for the Republican presidential nomination, in 1968 and 1976. Ronald Reagan was 69 years old when he was sworn into office for his first term on January 20, 1981. A minority of the critics of Reaganomics also suggested that the policies partially influenced the stock market crash of 1987, but there is no consensus regarding a single source for the crash. Former President Reagan returns to the White House to receive the Presidential Medal of Freedom from President Bush, 1993.
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