Little Picture: America Has Changed in 45 Years

[babylonsister]

http://prospect.org/csnc/blogs/tapped_archive?month=07&year=2011&base_name=little_picture_why_we_shouldnt

Little Picture: America Has Changed in 45 Years
By Amanda Litman | Posted 07/18/2011 at 04:00 PM


The Republican "cut, cap and balance" plan caps federal spending at 18 percent of the previous year's gross domestic product. Federal spending has not been at that level since 1966. This chart, courtesy of the Center for American Progress, explains how the world has changed since then.

[liberal N proud]

1. The minimum wage chart tells the story of our time

Paring back the middle class.

[drdtroit]

2. Except the cost of a gallon of gas in 1966 was around $0.32

I don't know where they came up with the $2.15 figure???

[gblady]

3. yeah.....that gas price is definitely wrong....

I remember that in the early 70s, with the gas wars,
the price was 25 cents per gallon...

and you got free steak knives with an 8 gallon purchase.

and they pumped your gas,

and washed your windows,

and checked your oil.

All at no charge!

[surrealAmerican]

4. I assume they are adjusting for inflation.

The other "dollar amounts" referenced must be also.

[drdtroit]

5. Ahhh yes, saw the small print at the bottom, thanks.

[Dawson Leery]

6. kick

[Tx4obama]

7. K&R n/t

:kick:

[snot]

8. Fascinating and helpful; and yes, it's all in inflation-adjusted, 2010 dollars --

see note at the very bottom of the graphic.

[eppur_se_muova]

9. MEDIAN wage should be on that chart.

NOT average, median (the dividing line between the bottom 50% and the top 50%). The average only reflects the total growth in wealth, not how it's been distributed.