3min chapter

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The Peacemaker: Ronald Reagan, The Cold War, And The World On The Brink | Peter Robinson | Hoover Institution

Uncommon Knowledge

CHAPTER

Reagan's Defense Budget, Not Just Building More, but Building Better

In 1982, Republicans lose 27 seats in the House of Representatives. By 1983, inflation's fallen to 3.7% and also in 1983, the economy begins an expansion that by 1984 is clocking at a growth rate of over 7%. The military, Reagan takes office, annual defense budget, $143 billion. And he begins his second term, four years later, the defense budget has more than doubled to more than $300 billion. At its core, we're cutting edge weapon systems based on unique technologies that could outmatch anything the Kremlin wielded no matter how much more the Soviets spent and built.

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