7 Ronald W. Reagan 7Ronald and Nancy Reagan waving to crowds on the day of his fi rst inaugura-
tion, January 20, 1981. Courtesy Ronald Reagan Library
steep tax cuts, increased defense spending, a balanced
budget, and a constitutional amendment to ban abortion.
On election day Reagan defeated Carter with slightly
more than half the popular vote. The vote in the electoral
college was 489 to Carter’s 49.
Presidency
First Days
Reagan’s presidency began on a dramatic note when, after
the inaugural ceremony, he announced that Iran, which
had been holding American hostages since 1979, had