Ronald Wilson Reagan was the 40th President of the United States, when Reagan took office he promoted new political and economic initiatives to combat the recession of the Great Depression.
Reagan's economic initiatives are also known as Reaganomics, President Reagan believed that the government was not the solution but it was the problem, and that an increased productivity would and fair trade would lead to a wealthier economy. He was an advocate of the free market and capitalism economy, so he cut the tax rate and spendings of the government until the economy growth was healthy again.
