The reagan revolution was unlike anything anyone had ever seen before in american government: nation would go into incredible debt with double-digit inflation and a foreign policy that was punctuated by the iran-contra affair.

False

Explanation:

President Reagan, in the economic field, managed to reduce fiscal spending, reduce taxes, reduce regulations and reduce inflation. Regarding foreign policy, Ronald Reagan was the great winner of the Cold War, imposing American supremacy over the USSR and the Warsaw Pact. The Iran-Contra affair occurred in his second mandate, his government was not able to tear down the Islamic regime of Iran.