His economic plan -- the "trickle down theory" -- called for huge tax cuts for the rich coupled with hugely increased defense spending, including "Star Wars." This program was so far from sensible economics that it wasn't even called that -- it was called "Reaganomics." It had also been called "voodoo economics" by George H.W. Bush, the man Reagan chose as his running mate and later succeeded him to the presidency. Reagan's own Office of Management and Budget director David Stockman called his boss' plan a "trojan horse," designed to hide his tax cuts for the wealthy.
Reagan had been an actor before he went into politics so he was good at convincing people that he was someone he was not, so it should be no surprise that when he ran for president people believed him when he said he was conservative, even though he wasn't.
As president, Reagan increased the national debt fourfold and since then his vice president and his vice president's son have increased the deficits to the point where the national debt will be over $10 trillion and the interest on that debt will be $450 billion per year. If this is an example of conservative fiscal policy, then heaven help us if we ever get a president who spends money liberally.
The burden of paying the interest on the national debt, as well as the cost of running the government, will be borne by our children, grandchildren and their children. This is some legacy we're leaving them.