Reagan and Bush’s Economic Policies
Reagan was focused on the supply-side of economics, on supporting the rich and having prosperity trickle down to the poor. Labeled Reaganonmics, it had many similarities to Thatcherism, Margaret Thatcher’s English economic policy. It focused on low taxes and small government, but with a big defense budget and subsequent big military.
Bush also supports tax cuts: as can be seen here
To address this faltering economy, President Bush proposed accelerating and making permanent his 2001 tax cut. In addition, Bush has added additional elements to his initial plan which will bring the cost of his proposal to over $700 billion.
Military spending, too, for the Bush administration, is very prevalent and important. While Reagan had to face the Soviet Union, Bush has to face Iraq.
Today government is larger and mroe powerful than Reagan’s, but the economic policies of the two are similar - with tax cuts, high military spending, and fallback on the budget defecit.
