On This Day In 1987 — Reagan Admits Iran-Contra 'Mistakes' In SOTU

Jan. 27, 1987:

Two Ronald Reagan Irangate buttons.

In his State of the Union address, President Ronald Reagan acknowledges that "serious mistakes were made" in his administration's decision to trade arms to Iran in a bid to release Americans held hostage. "It did not work, and for that I assume full responsibility."

Dealing with the Iran-Contra scandal will take up much of Reagan's second term in office.

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