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President Reagan speaks to Britain's Prime Minister Margaret Thatcher in London on June 7, 1984

The next year, nineteen eighty-four, was a presidential election year. It looked like no one could stop President Reagan. His warm way with people had made him hugely popular. He gained support with the military victory in Grenada. And, by the time the campaign started, inflation was under control. The Republican Party renominated Ronald Reagan for president and George Bush for vice president.

There were several candidates for the Democratic Party's nomination. One was the first African-American to seek the presidency, Jesse Jackson. He was a Protestant clergyman and a longtime human rights activist.

The candidate who finally won the nomination was Walter Mondale. He had been a senator and had served as vice president under President Jimmy Carter. The vice presidential candidate was Congresswoman Geraldine Ferraro. It was the first time a major party in the United States had nominated a woman for national office.

Democratic presidential nominee Walter Mondale and his running mate Geraldine Ferraro on July 19, 1984, at the end of the Democratic National Convention in San Francisco

GERALDINE FERRARO: "Tonight, the daughter of working Americans tells all Americans that the future is within our reach if we're willing to reach for it. [Applause]"

One issue in the election campaign was taxes. Political candidates often try to avoid talking about taxes with voters. But former Vice President Mondale did talk about the issue. He said taxes would have to be raised to pay for new government programs.