| Reagan Library Album, The first 70 days |
In 1981 President Reagan passed legislation
to cut income taxes across the board by 25%.
He added savings programs of IRA's and
401k's. The economy was held back until late
1982 with the Federal Reserve holding
interest rates high. Late 1982 they allowed
them to go down and the economy boomed.
to cut income taxes across the board by 25%.
He added savings programs of IRA's and
401k's. The economy was held back until late
1982 with the Federal Reserve holding
interest rates high. Late 1982 they allowed
them to go down and the economy boomed.
When President Reagan came into office one of the first things
he did was deregulate oil. Carter had passed legislation which
required old oil wells to have a cap on what the oil could be sold
at freezing them at pre-arab embargo prices. The oil companies
capped those wells rather than get a low price. The price of gas
& oil went up steadily. President Reagan allowed the oil to be
sold at market price. The wells were uncapped and the country
was flooded with oil. The price of gas & oil plummeted.
he did was deregulate oil. Carter had passed legislation which
required old oil wells to have a cap on what the oil could be sold
at freezing them at pre-arab embargo prices. The oil companies
capped those wells rather than get a low price. The price of gas
& oil went up steadily. President Reagan allowed the oil to be
sold at market price. The wells were uncapped and the country
was flooded with oil. The price of gas & oil plummeted.
| When President Reagan came into office the Soviet Union was expanding at the rate of multiple countries each year. Inflation and interest rates were at double digits. The price of gas was going through the roof. It was called "Stagflation". This page includes an entry from President Reagan's personal diary. |
| January 1981--stops wage and price controls and deregulates oil. |
| February 1981--Unveils his economic plan of cutting taxes, starting IRA's, 401k's. |
| March 30, 1981, President Reagan is shot in an assassination attempt. |
| March 30, the Xray shows the bullet stopping one inch from the President's heart. |
From the book "The Reagan Diaries" page 10 for the dates March 30 to April 11.
My day to address the Bldg. & Const. Trades Nat. Conf. A.F.L.-C.I.O. at the Hilton
Ballroom--2 PM. Was all dressed to go & for some reason at the last min. took off
my really good wrist watch & wore an older one.
Speech not riotously received--still it was successful.
Left the hotel at the usual side entrance and headed for the car--suddenly there
was a burst of gunfire from the left. S.S. Agent pushed me unto the floor of the
car & jumped on top. I felt a blow in my upper back that was unbeleivably
painful. I was sure he had broken my rib. The car took off. I sat on the edge of
the seat almost paralyzed by pain. Then I began coughing up blood which made
both of us think--yes I had broken a rib & it had punctured a lung. He switched
orders from W.H. to Geo. Wash. U. Hosp.
By the time we arrived I was having great trouble getting enough air. We did not
know that Tim McCarthy (S.S.) had been shot in the chest, Jim Brady in the head,
& a policeman Tom Delahanty in the neck.
I walked into the emergency room and was hoisted onto a cart where I was
stripped of my clothes. It was then we learned I'd been shot & had a bullet in my
lung.
Getting shot hurts. Still my fear was growing because no matter how hard I tried
to breathe it seemed I was getting less & less air. I focused on that tiled ceiling
and prayed. But at the same time I couldn't ask for Gods help while at the same
time I felt hatred for the mixed up young man who had shot me. Isn't that the
meaning of the lost sheep? We are all Gods children & therefore equally
beloved by him. I began to pray for his soul and that he would find his way back
to the fold.
I opened my eyes once to find Nancy there. I pray I'll never face a day when she
isn't there. Of all the ways God has blessed me giving her to me is the greatest
and beyond anything I can ever hope to deserve.
All the kids arrived and the hours ran together in a blur in which I was operated
on. I know it is going to be a long recovery but there has been such an
outpouring of love from all over.
The days of therapy, transfusion, intravenous etc. have gone by--now it is Sat.
April 11 and this moring I left the hospital and am here at the W.H. with Nancy &
Patti. The treatment, the warmth, the skill of those at G.W. has been magnificent
but it's great to be home.
Whatever happens now I owe my life to God and will try to serve him in every
way I can.
My day to address the Bldg. & Const. Trades Nat. Conf. A.F.L.-C.I.O. at the Hilton
Ballroom--2 PM. Was all dressed to go & for some reason at the last min. took off
my really good wrist watch & wore an older one.
Speech not riotously received--still it was successful.
Left the hotel at the usual side entrance and headed for the car--suddenly there
was a burst of gunfire from the left. S.S. Agent pushed me unto the floor of the
car & jumped on top. I felt a blow in my upper back that was unbeleivably
painful. I was sure he had broken my rib. The car took off. I sat on the edge of
the seat almost paralyzed by pain. Then I began coughing up blood which made
both of us think--yes I had broken a rib & it had punctured a lung. He switched
orders from W.H. to Geo. Wash. U. Hosp.
By the time we arrived I was having great trouble getting enough air. We did not
know that Tim McCarthy (S.S.) had been shot in the chest, Jim Brady in the head,
& a policeman Tom Delahanty in the neck.
I walked into the emergency room and was hoisted onto a cart where I was
stripped of my clothes. It was then we learned I'd been shot & had a bullet in my
lung.
Getting shot hurts. Still my fear was growing because no matter how hard I tried
to breathe it seemed I was getting less & less air. I focused on that tiled ceiling
and prayed. But at the same time I couldn't ask for Gods help while at the same
time I felt hatred for the mixed up young man who had shot me. Isn't that the
meaning of the lost sheep? We are all Gods children & therefore equally
beloved by him. I began to pray for his soul and that he would find his way back
to the fold.
I opened my eyes once to find Nancy there. I pray I'll never face a day when she
isn't there. Of all the ways God has blessed me giving her to me is the greatest
and beyond anything I can ever hope to deserve.
All the kids arrived and the hours ran together in a blur in which I was operated
on. I know it is going to be a long recovery but there has been such an
outpouring of love from all over.
The days of therapy, transfusion, intravenous etc. have gone by--now it is Sat.
April 11 and this moring I left the hospital and am here at the W.H. with Nancy &
Patti. The treatment, the warmth, the skill of those at G.W. has been magnificent
but it's great to be home.
Whatever happens now I owe my life to God and will try to serve him in every
way I can.