You are confusing Reagan the candidate with Reagan he president. A lot of libertarians make that mistake, but Reagan the president was only a bit more libertarian than, say, Jimmy Carter.
Both the Cato Institute and Reason Magazine have dozens of articles for your edification on how President Reagan was no friend to libertarians.
But, this is beside the point. Where Reagan compromised the libertarian values to obtain what he could, he also compromised the Conservative values. In the American context, they are basically the same.
Correcting--if we can--the drift to a sick dependence on the Collective, will take more than one Administration. The tragedy is that the Reagan turn back towards the fundamentals of the American achievement was not followed up in the past 23 years. But it is vital that we do so. There is no substitute for the social fabric built upon individual responsibility & accountability, which made the America that entered the 20th Century on the cusp of true affluence, possible. None! Subsidizing failure; bribing people to be irresponsible; the premises of the Left are a gathering disaster.
Personal liberty & material success for us, as peoples, are inseparable. If one will but focus on the dynamics of personal achievement, that must become increasingly obvious.
Put another way, Collectivist/Egalitarianism Sabotages Human Potential. A people increasingly dependent upon Government cannot even be trusted to manage the legitimate powers of the Government--those so carefully set forth in the Constitution, for example--well. Their judgment as well as their incentives, are all compromised.
William Flax