Reaganomics
noun[U]
informaluk/ˌreɪɡəˈnɒmɪks/usPOLITICS,ECONOMICS
the set ofeconomicideasfollowedby Ronald Reagan when he was USPresidentin the 1980s. Theyincludedlowertaxesandspendingonpublicservices, and lessgovernmentcontrolof theeconomy:
Themassivetaxcutsof "Reaganomics"ledto anunprecedentedperiodofeconomicprosperity, but were alsoresponsibleforhugebudgetdeficits.