Contents
The Standard of Living
One of the more often spoken myths of the 1980s is that the standard of living plummeted as costs grew but incomes didn't. As we will see, incomes did grow. In addition, the costs of living only rose modestly, unlike the Carter years.
For example, take a look at the affordability of housing, which increased during the Reagan expansion, after falling during the Carter years and actual home ownership figures from 1982-9.
Another standard of living is inflation. Up severely during the Carter years, and down during the Reagan expansion. Unlike the previous decade, a look at wages versus inflation shows a dramatic improvement during the Reagan Era.
Poverty rates also show a marked improvement during the expansion, despite what you may have heard from the liberal media.
Overall, Americans continued to live better than their parents did, in larger homes, with higher household incomes, and with better appliances, cars, and technology.
© 1994-2012
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