 Complete the following phrase:  Soon after taking office as president, Reagan began implementing sweeping new political and economic initiatives. His supply-side economic policies, dubbed Reaganomics, advocated tax rate reduction to spur economic growth, economic deregulation, and reduction in government spending. In his first term, he survived an assassination attempt, spurred the War on Drugs, invaded Grenada, and fought public sector labor unions. Over his two terms, the economy saw a reduction of inflation from 12.5 to 4.4 and an average real GDP annual growth of 3.6. Reagan enacted cuts in domestic discretionary spending, cut taxes, and increased military spending, which contributed to increased federal debt overall. Foreign affairs dominated his second term, including the 