Original sentence: Also It was during his second term that the Internal Revenue Code of 1986 was passed.Every president in the later half of the 20th century before Reagan reduced debt as a share of GDP.In 1980, Ronald Reagan was elected President, and immediately began a series of cuts in taxes and spending.In 1987, the stock market lost 22% of its value in one day on Black Monday.Inflation dropped dramatically from 13.5% annually in 1980 to just 3% annually in 1983, and real GDP growth began to grow after contracting in 1980 and 1982.The Reagan administration reduced taxes and regulation
Edited sentence: In 1980, Ronald Reagan was elected President by a landslide, and immediately began a series of cuts in taxes and spending.Inflation dropped dramatically from 13.5% annually in 1980 to just 3% annually in 1983, and real GDP growth began to grow.It was during his second term that the Internal Revenue Code of 1986 was passed.Of course, the debt regularly reaches record levels as the debt has not been reduced over the course of a Presidency since Calvin Coolidge was in office.The Reagan Revolution reduced taxes and regulation