“Iron Lady” Margaret Thatcher becomes British Prime Minister. She is the first, and so far, only woman to hold the position. She saved a generation of Brits from socialism, and reversed the course of their downfall.
Her election was timely, as a year later, Americans would elect President Ronald Reagan (R-USA). The two of them rekindled the U.S.-UK relationship and are considered conservative icons of the twentieth century, as well as heroes of the Cold War. Thatcher shared Reagan’s belief in the evils of Communism and also shared his dry wit.
But Thatcher is not merely a shadow of Reagan. She is her own woman, and a strong one. The position and direction of the UK at the time of her election are eerily similar to what America faces today. She was able to turn things around, just when it seemed that socialism would take over and steer the UK to its inevitable demise. Britain prospered under her leadership and is still feeling the effects of her efforts today, though she’s been out of office for over 20 years.
Incidentally, her nickname of “Iron Lady” was given to her by the Soviet Army newspaper, Red Star.
Socialist governments traditionally do make a financial mess. They always run out of other people's money. It's quite a characteristic of them. – Margaret Thatcher, February 5, 1976