S7 E7: Gilded Age 2.0
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Economic Policies Unravel Realities
In the 1980 election, Black voters largely supported Carter, while a majority of white voters favored Reagan, reflecting deep demographic divides. Reagan's presidency was marked by worsening economic conditions, exacerbated by high interest rates implemented to combat inflation, resulting in a severe recession and significant unemployment. Despite the reduction in inflation, the economic policies led to substantial tax cuts and nearly doubled the national debt during his administration.
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