17. Gross Domestic Product (GDP):
Supports that Reaganomics was a success. During Reagan's presidency, the GDP grew steadily, with annual growth rates ranging from 2.5% to 7.3%. This indicates that Reaganomics successfully stimulated the economy and increased economic output.
18. National Debt:
Undermines a claim that Reaganomics was a success. While Reagan aimed to reduce government spending, his policies actually led to a significant increase in the national debt. The national debt nearly tripled during Reagan's presidency, from $997 billion to $2.85 trillion. This suggests that Reaganomics was not successful in reducing government spending and balancing the budget.
19. Maximum Income Tax Rate:
Supports that Reaganomics was a success. Reagan's tax policies included significant reductions in the maximum income tax rate, which decreased from 70% to 28% during his presidency. This contributed to the economic growth seen during his presidency, as it provided incentives for individuals and businesses to invest and stimulate the economy.
20. People Living in Poverty:
Undermines a claim that Reaganomics was a success. While the poverty rate initially decreased during Reagan's presidency, it increased again in later years. In addition, the gap between the rich and poor widened during this time, suggesting that Reaganomics did not successfully address poverty and income inequality.
21. Unemployment:
Supports that Reaganomics was a success. Unemployment initially increased early in Reagan's presidency, but then decreased significantly in later years. By the end of his presidency, the unemployment rate had dropped from 7.5% to 5.4%. This indicates that Reaganomics helped to stimulate job growth and reduce unemployment.