That moniker is a reference to the Reagan Amnesty, which ended up legalizing nearly 3 million persons. One of the few good things Ronnie Reagan did while prez.
Did the country do a tailspin because close to 3 million people were legalized? Nope. Life kept chugging along like it always does. The Earth didn't open up and swallow the nation. No raining frogs or blood boiling in the street.