R.I.P. Ronald Reagan, the Greatest President of the Last Century

R.I.P. Ronald Reagan, the Greatest President of the Last Century

On this day, remember the life and accomplishments of Ronald Reagan, who passed away 20 years ago (6/5/2004). As the most accomplished president of the last century, Reagan's place in history is pretty well established. Reagan's 1980 and 1984 landslide victories were never controversial as the Electoral Vote count was 489-49 and 525-13, respectively, with 10% and 18% margins of victory over his Democrat opponents.

It is useful to remember that in November 1980 he was the oldest elected President (69!) and faced a range of issues, from the unprecedented stagflation (high unemployment and high inflation) from the Carter-era, persistent high inflation that dated back to LBJ's simultaneous Great Society + Vietnam War policies, a diminished US reputation on the world stage as a "paper tiger", unraveling alliances (partly due to Carter's application of US definitions of human rights to other countries), a 2nd-rate nuclear arsenal that paled next to the Soviet Union's, the USSR in Afghanistan, Sandinistas in Nicaragua, and a stock market that hadn't advanced in 15 years.

Following a March 1981 assassination attempt, Reagan had to both recover and advocate for his Economic Recovery Act, which passed 25% across-the-board tax cuts. This program would trigger capital formation, technology investments, a strong stock market, greater household wealth, and the longest peacetime expansion in US history (at that point).

Moreover, Reagan's commitment to Peace-Through-Strength and the Strategic Defense Initiative helped bolster the NATO alliance, while chastening Soviet expansion efforts. Indeed, Reagan's strengthening of alliances with Western European countries, Japan, and Canada ultimately brought Gorbachev to the table to negotiate true nuclear reduction treaties (Trust-But-Verify) and, ultimately, the end to the 40-year Cold War, without firing a shot. Indeed, Reagan's foreign policy successes ultimately freed hundreds of millions of people around the world in the wake of the unwinding of the Iron Curtain.

Reagan never demonized his opponents, but effectively used his communication skills to rally public support and actively lobbied hundreds of congressmen/women and Senators for his policies. Indeed, he famously noted that “the person who agrees with you 80 percent of the time is a friend and an ally – not a 20 percent traitor.” Quite the contrast to today's stifling ideological polarization.

Moreover, he was responsible for picking the most qualified VP in our country's history, George H.W. Bush, whose background included successfully founding an energy company, serving in Congress, heading up the CIA, leading the RNC, representing the US in the United Nations, and serving as the US envoy to China. This VP pick ultimately enabled Bush to be elected as his successor and effectively oversee the democratization of Europe and the dissolution of the USSR. Reagan's vision and leadership are missed. RIP.