The average American: 1967 and today
I thought that this was interesting.
“As the U.S. population crossed the 300 million mark sometime around 7:46 a.m. Tuesday (according to the U.S. Census Bureau), the typical family is doing a whole lot better than their grandparents were in 1967, the year the population first surpassed 200 million.Mr. and Mrs. Median’s $46,326 in annual income is 32 percent more than their mid-’60s counterparts, even when adjusted for inflation, and 13 percent more than those at the median in the economic boom year of 1985. And thanks to ballooning real estate values, median household net worth has increased even faster. The typical American household has a net worth of $465,970, up 83 percent from 1965, 60 percent from 1985 and 35 percent from 1995.
Throw in the low inflation of the past 20 years, a deregulated airline industry that’s made travel much cheaper, plus technological progress that’s provided the middle class with not only better cars and televisions, but every gadget from DVD players to iPods, all at lower and lower prices, and it’s obvious that Mr. and Mrs. Median are living the life of Riley compared to their parents and grandparents.”
Click here to read the whole story.
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