In a sweeping victory, Ronald Reagan (R) defeated incumbent Jimmy Carter (D). Reagan, the 40th president, also demonstrated long coat-tails, as the Republican Party took over the Senate for the first time since 1954. Amid a climate of high inflation, low inflation, and waning patriotism, President Reagan pledged to restore the nation's economic and military greatness. Reagan was a proponent of small government. And he championed local sovereignty, minimal federal regulation, and low taxation. Reagan also possessed an unwavering faith in the rejuvenating power of an unfettered free-market system. Reagan was also a staunch anti-communist. On 30 March 1981, Reagan was wounded in a botched assassination attempt. His good humour and undeniable bravery in the immediate aftermath of the event and during his subsequent recovery provided Reagan with enough political capital to move forward on...
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Citation: Richert, Lucas Paul. "Presidency of Ronald Reagan". The Literary Encyclopedia. First published 01 October 2008 [https://www.litencyc.com/php/stopics.php?rec=true&UID=972, accessed 10 June 2026.]

