Daily Archives: July 19, 2010

30th Anniversary: Ronald Reagan Accepts Republican Presidential Nomination

Ronald Reagan, Gerald Ford and George H.W. Bush appeared before the Republican National Convention in Detroit. All factions of the GOP were united and the days of stagflation, the misery index, high unemployment and interest rates, would soon be coming to an end. Huge tax cuts would be enacted and the 1980's economic boom would begin. This was the change we could believe in.

It was 30 years ago tonight that Ronald Reagan accepted the GOP presidential nomination. The nation was in a crisis. Interest rates would hit 21%, inflation was 13.5%, and unemployment was 7%. The so-called “Misery Index,” which Jimmy Carter used effectively in his 1976 campaign, was then an unprecedented 20.5%. Continue reading