Recession: This term refers to a significant decline in economic activity characterized by high unemployment rates, reduced consumer spending, and decreased business profits. The early years of Reagan's presidency saw a recession that he aimed to combat through his economic policies.
Air Traffic Controllers Strike: This term refers to an event in 1981 where air traffic controllers went on strike demanding higher wages and better working conditions. Reagan responded by firing those who did not return to work, setting a precedent for his stance against labor unions.
Iran Hostage Crisis: This term refers to the prolonged captivity of Americans held hostage by Iran from 1979 until their release in January 1981. The crisis had just ended when Reagan took office, impacting his approach towards foreign policy during his presidency.