What was the lasting impact of President Reagan on the United States?

Reagan was one of America's most popular presidents.  The former actor had a real gift for explaining his vision for America so that all could understand.  President Reagan was a leader in ending the Cold War and building positive Russian-American relations. Reagan was also a leader in the War on Drugs and his wife Nancy's campaign of "Just Say No" was quite popular.   
Politically, Reagan did have some problems, however.  Reagan was president during the Iran-Contra scandal and somehow managed to avoid punishment.  Reagan's policies of financial deregulation helped to bring about the Savings and Loan crisis of the late 1980s which hurt the presidency of his successor, George H.W. Bush.  Reagan's increased military spending led to massive deficits that America continues to pay on today.  Today Reagan is considered a hero of the Republican party, but his massive military spending and deficits would make him a liability for fiscal conservatives.