Further information: Domestic policy of the Ronald Reagan administration and Foreign policy of the Ronald Reagan administration
First inauguration
Main article: First inauguration of Ronald Reagan
Reagan delivering his inaugural address, January 1981
The 40th president of the United States,[178] Reagan was 69 years, 349 days of age when he was sworn into office for his first term on January 20, 1981, making him the oldest first-term president, a distinction he held until 2017 when Donald Trump was inaugurated at the age of 70 years, 220 days.[179] In his inaugural address, he addressed the country's economic malaise, arguing, "In this present crisis, government is not the solution to our problem, government is the problem."[180] In a final insult to President Carter, Iran waited until Reagan had been sworn in before sending the hostages home.[181]

Assassination attempt
Main article: Attempted assassination of Ronald Reagan
On March 30, 1981, Reagan, James Brady, Thomas Delahanty, and Tim McCarthy were struck by gunfire from John Hinckley Jr. outside the Washington Hilton. Although "right on the margin of death" upon arrival at George Washington University Hospital, Reagan underwent surgery and recovered quickly. 