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. Over his two terms, the economy saw a reduction of inflation from 12.5% to 4.4% and an average real GDP annual growth of 3.4%. Reagan enacted cuts in domestic discretionary spending, cut taxes, and increased military spending, which contributed to increased federal debt overall. Foreign affairs dominated his second term, including the bombing of Libya, the Iran–Iraq War, the Iran–Contra affair, and the ongoing Cold War.
n/a
n/a