James A. Abrahamson administration to announce the program would cease. Abrahamson accompanied President Reagan to Reykjavik, Iceland, for the Reykjavik Summit on October 11, 1986, to meet the Soviet leader, Secretary General Mikhail Gorbachev. The subject of the Strategic Defense Initiative's technological advances and their effects on the strategic nuclear balance between the United States and the Soviet Union during the last years of the Cold War was raised by the Soviets at the meeting. During the post-summit press conference, Gorbachev said Reagan's insistence on deploying SDI had "frustrated and scuttled" the opportunity for an agreement. Abrahamson was promoted to lieutenant general on
Presidency of Ronald Reagan programs and priorities that had dominated the national agenda since the 1930s. Domestically, the Reagan administration enacted a major tax cut, sought to cut non-military spending, and eliminated federal regulations. The administration's economic policies, known as "Reaganomics", were inspired by supply-side economics. The combination of tax cuts and an increase in defense spending led to budget deficits, and the federal debt increased significantly during Reagan's tenure. Reagan signed the Tax Reform Act of 1986 (which simplified the tax code by reducing rates and removing several tax breaks) and the Immigration Reform and Control Act of 1986 (which enacted sweeping changes