Claim: Supply-side economic policies were promoted by Ronald Reagan.

Ronald Wilson Reagan -LRB- -LSB- ˈrɒnəld_ˈwɪlsən_ˈreɪɡən -RSB- -RRB- -LRB- February 6 , 1911 -- June 5 , 2004 -RRB- was an American politician and actor who served as the 40th President of the United States from 1981 to 1989 . Before his presidency , he was the 33rd Governor of California , from 1967 to 1975 , after a career as a Hollywood actor and union leader .   Raised in a poor family in small towns of northern Illinois , Reagan graduated from Eureka College in 1932 and worked as a sports announcer on several regional radio stations . After moving to Hollywood in 1937 , he became an actor and starred in a few major productions . Reagan was twice elected President of the Screen Actors Guild , the labor union for actors , where he worked to root out Communist influence . In the 1950s , he moved into television and was a motivational speaker at General Electric factories . Having been a lifelong Democrat , his views changed . He became a conservative and in 1962 switched to the Republican Party . In 1964 , Reagan 's speech , `` A Time for Choosing '' , in support of Barry Goldwater 's foundering presidential campaign , earned him national attention as a new conservative spokesman . Building a network of supporters , he was elected Governor of California in 1966 . As governor , Reagan raised taxes , turned a state budget deficit to a surplus , challenged the protesters at the University of California , ordered National Guard troops in during a period of protest movements in 1969 , and was re-elected in 1970 . He twice ran unsuccessfully for the Republican nomination for the U.S. presidency in 1968 and 1976 ; four years later , he easily won the nomination outright , becoming the oldest elected U.S. president up to that time , defeating incumbent Jimmy Carter in 1980 .   Entering the presidency in 1981 , Reagan implemented sweeping new political and economic initiatives . His supply-side economic policies , dubbed `` Reaganomics '' , advocated tax rate reduction to spur economic growth , control of the money supply to curb inflation , economic deregulation , and reduction in government spending . In his first term he survived an assassination attempt , spurred the War on Drugs , and fought public sector labor . Over his two terms , the economy saw a reduction of inflation from 12.5 % to 4.4 % , and an average annual growth of real GDP of 3.4 ; while Reagan did enact cuts in domestic discretionary spending , tax cuts and increased military spending contributed to increased federal outlays overall , even after adjustment for inflation . During his re-election bid , Reagan campaigned on the notion that it was `` Morning in America '' , winning a landslide in 1984 with the largest electoral college victory in American history . Foreign affairs dominated his second term , including ending of the Cold War , the bombing of Libya , and the Iran -- Contra affair . Publicly describing the Soviet Union as an `` evil empire '' , and during his famous speech at the Brandenburg Gate , President Reagan challenged Soviet General Secretary Mikhail Gorbachev to `` tear down this wall ! '' . He transitioned Cold War policy from détente to rollback , by escalating an arms race with the USSR while engaging in talks with Gorbachev , which culminated in the INF Treaty , shrinking both countries ' nuclear arsenals . Reagan 's presidency came during the decline of the Soviet Union and just ten months after the end of his term , the Berlin Wall fell , and on December 26 , 1991 , nearly three years after he left office , the Soviet Union collapsed .   Leaving office in 1989 , Reagan held an approval rating of sixty-eight percent , matching those of Franklin D. Roosevelt , and later Bill Clinton , as the highest ratings for departing presidents in the modern era . He was the first president since Dwight D. Eisenhower to serve two full terms , after a succession of five prior presidents failed to do so . While having planned an active post-presidency , in 1994 Reagan disclosed his diagnosis with Alzheimer 's disease earlier that year , appearing publicly for the last time at the funeral of Richard Nixon ; he died ten years later in 2004 at the age of 93 ; Reagan had the second-longest life out of all the presidents ; the current longest lifespan of a president is held by Gerald Ford , who died two years after Reagan . An icon among Republicans , he is viewed favorably in historian rankings of U.S. presidents , and his tenure constituted a realignment toward conservative policies in the U.S.