Post-1940
American Economy
Gross National Product
-1945 = $212 Billion
-1960 = $500 Billion
-1970 = $1 Trillion
Redistribution of Wealth and Income
New Consumers
Government Spending
Increased Productivity
-Research and Development
Culture of Affluence
-Youth Rebellion of 1960s
Arab Oil Embargo (1973)
Reagan Tax Cut
(1981)
-$750 Billion
Deficit Increase (1981-1985)
-$728 Billion