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Margaret Thatcher, ‘Iron Lady’ Who Set Britain on New Course, Dies at 87
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Margaret Thatcher and Ronald Reagan

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Despite Reagan's empathy and encouragement, Thatcher observed: 'The newspapers are saying mostly that President Reagan must avoid Mrs Thatcher's mistakes so I must brief you on the mistakes. Reagan also praised their shared approaches and commonality of purpose.

Margaret Thatcher and Ronald Reagan | SpringerLink

Regan, the US Treasury Secretary, was vehemently criticising her economic policies in his testimony to a Congressional committee. Regan sought to distance his new administration's policies from those implemented by Thatcher.

Paradoxically, Thatcher publicly defended her economic programme by linking it to Reagan's, while his administration criticised her. However, during the same visit, Thatcher used a speech at Georgetown University to delicately offer some criticism of her own.

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After again contrasting her programme with the alleged failure of the British post-war settlement and equating her agenda with Reaganomics, she noted that the president's economic objective was essentially 'to restore people's trust in the dollar'. Thatcher argued that this was vital for the global economy.

Her message was sharp: 'The dollar is the world's money. One of the major differences between Thatcherism and Reaganomics becomes clear as the decade unfolds: Thatcher sought a balanced budget to ensure 'good housekeeping', while Reagan's tax cuts reflected his institutional and political battle with Congress. His tax policies and military spending resulted in an astronomical budgetary deficit, ensuring that economic policy remained a source of tension between the Reagan and Thatcher administrations.

Thatcher criticised the American deficit privately, to avoid publicly disagreeing with her ally.

Special Relationship Strongest Under Thatcher

For instance, when meeting with Reagan in December , Thatcher raised the problem of the US deficit. The following year, the Reagan administration expected Thatcher to use a meeting with senior policy makers 'to lecture on US budgetary deficits' and noted that: 'economic issues are a troublesome aspect of our bilateral relationship.

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She delicately explained the differences between her approach and that of the President: 'Yes, we should like to do more, but do not forget we could not run a deficit of the kind which the United States runs At one meeting, Reagan and Thatcher had a sharp discussion about U. That feisty determination was on display in a private meeting between Thatcher and Reagan at Camp David, Md. Thatcher called Gorbachev charming, open to debate and much less constrained than the typical Russian. Still, she told Reagan, she'd asked Gorbachev pointed questions during his visit to London, including why the Soviet Union denied its people the right to emigrate.