The late 1970’s was a time when Americans expressed pessimism and uncertainty about the United States economy. During the Carter administration the economy was in transition and going downhill. As Ronald Reagan took the chair in the oval office, public confidence in the President was falling. Over 11.5 million people had lost their jobs and wages were reduced significantly (Holloran and Hunt 38). Reagan knew that he needed to do something about the economic crisis: “By 1983, however an economic turnaround was evident; more people went back to work and millions of new jobs were created. Regardless of whether Americans benefited or suffered because of Reagan policies, the 40th President remained strikingly popular among most people”
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