Defense Cutbacks Devastate the U.S. Aerospace Industry
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Military History, Economics, Aviation, Space Exploration
- Subcategories: Business, Industry, Manufacturing, Factories, Aircraft, Airplanes
- Curriculum: American History 1951-present
- Geographical Location: Washington, D.C.
- Date: The 1980’s
Article abstract: The end of the Cold War and the decline of defense spending led to a decline in the U.S. aerospace industry.
Summary of Event
Early in his presidency, Ronald Reagan began an across-the-board rearmament program for the United States, with additional new spending running at $140 billion a year. His intent—more political than military—was to show the Soviet Union that it could not keep up in the economic and technological arms races. Efforts began with the deployment of cruise missiles in Europe and the expansion of numerous weapons...
[The entire page is 2608 words long]
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