Here is the Economist’s take on the Reagan legacy. It is worth a read, though I do not fully agree with it.
The big achievements of his administration—slashing the top rate of tax, building up the armed services, winning the cold war, institutionalising the conservative counter-establishment—far outweighed smaller compromises. But his ideology was not unmixed. In 1981, two days before a crazy character tried to shoot him, Mr Reagan told White House correspondents at the Gridiron Dinner that “sometimes our right hand doesn’t know what our far-right hand is doing”. What happened in practice was that the pragmatists in his administration frequently succeeded in keeping his far-right hand in check.