What were some of the long-term effects of the Reagan Revolution and the rise of conservatives?

Some effects of Reaganomics are:

- a long period of growth that extended even beyond Reagan's presidency;

- the taming of inflation,

- reduced regulations in US economy;

- the growth of the US federal budget's deficit due to the significant reduction of income and capital gains taxes ir order to estimulate private investment and job creation.

The Reagan Revolution envisioned substantial tax cuts to benefit individuals and businesses.

Through strict spending control, Reagan gradually managed to bring inflation down to about 4% to 6% a year during his term.

The then American president was also in favor of stimulating economic growth through greater production of goods and services - which would be reflected in the increase in job openings.

After reaching 10.6% of the economically active population at the end of 1982, unemployment fell to 5.5% in 1988.

On the other hand, the increase in defense spending, the cut in taxes and other economic factors led to an increase in the public deficit.

Reagan was also a supporter of the government's deregulation and decentralization.

Releasing regulation in various sectors, the then American president received criticism from some analysts, who accused him of making room for public health and safety problems.

Dozens of federal programs were transferred to states and municipalities, in a system of "new federalism", as it was called.

There was also an effort by Reagan to cut spending on social programs.

In his second term, from 1985 to 1989, he decided to focus his efforts on reforming the American tax system.

In 1986, Congress passed a bill reducing the number of taxes and exempting thousands of low-income people from paying taxes.