After Reagan’s inauguration, two months later, there was an assassination attempt. Though the bullet passed through on of Reagan’s lungs, just 7-8 weeks later he was working again. Reagan’s first acts as president were focused on the domestic issues such as working to reduce the government’s control of the people’s daily lives and their money.
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He also made tax cuts that were known as Reaganomics. Though Reagan reduced taxes, he increased the spending on military armaments. He was fixated on making the United States a respectable power house. Another of his domestic changes was his work to deregulate the workings of businesses. Though at first the people had thought that the tax cuts Reagan had made were beneficial, the public soon found the flaw of Reaganomics. The flaw being that it created budget deficits and added to a significant amount of national debt. Another of its flaws was that its policies were in what would seem to have been a trickle effect, meaning that the public would receive benefits a lot slower than they had originally imagined.
These flaws became one of Reagan’s failures as a President. Reagan impacted history in 1981, when he appointed the first woman to the U.S. Supreme Court, Sandra Day O’Connor. Reagan’s major failure as a president consisted of three things: The mistake to send Marines to Lebanon resulting in 241 casualties, the amount of money that he had thrusted into the nuclear arms race with the Soviet Union during the Cold War resulting in increasing the National Debt, and the shady incident in which Reagan had been thought to have negotiated with Iran the trade of weapons for hostages.
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