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
 

 

 

 

 
       Deficits, 1950-1993

  
  Family Income, 1970-1990

  
      Aid to Families with
      Dependent Children,
             1960-1994

  
       Rich getting richer