Reagan was a great man who didn't get credit for what he did. He came into office after a weak Jimmy Carter let the world walk on America an let Interest rates climb to 20%. Reagan did spend money, to build the money and lower Interest rates (which does cost the Gov't money). But by building the Military and threatening to use America's might to crush Iran, the hostages were freed, the Soviet Union couldn't outspend us an fell.
Presidents since haven't managed the Soviet relationship since and now we are back to a serious adversarial relationship that will cost us for some time. Interest rates are still historicall fairly low but much higher than recent times which costs the Taxpayers inflation when spending should've been cut to manage the budget and inflation.