Cost of living in the modern USA

Paid $2.29 for a gal of gas when I filled up today.... Who gets the credit for this.

originally posted by: LogicalGraphitti
Bidenomics (spoken in a whisper).

...

Nope.

There was an interesting article that came out a couple of weeks ago that asked the question "How Biden’s Economy Stacks Up Against Every President Since 1963".

www.gobankingrates.com...

The article looked at a handful of the traditional economic indicators such as GDP growth, unemployment rate, and inflation.

Between 1963 and now the Presidents were: Lyndon B. Johnson (1963-1969), Richard Nixon (1969-1974), Gerald Ford (1974-1977), Jimmy Carter (1977-1981), Ronald Reagan (1981-1989), George H. W. Bush (1989-1993), Bill Clinton (1993-2001), George W. Bush (2001-2009), Barack Obama (2009-2017), Donald Trump (2017-2021), Joe Biden (2021-Present). That's 5 Dem Presidents and 6 Repubs. Dem Presidents for 29 years and Repub Presidents for 32 years. So the Presidency was pretty equally distributed between Ds and Rs for that 60 year time period.

Here's the interesting thing: the variables of GDP growth, unemployment, and inflation went up and down within some limits, but (in my opinion) did not show much correlation with D or R Presidents. For example, inflation under Biden has been about 5%, but it was higher under Nixon, Ford, and Reagan. GDP growth was highest under Carter, but so was inflation. Unemployment was lowest under LBJ at 3.4%, but almost the same (3.5%) under Biden. In other words, the party of the President doesn't seem to matter much for those economic indicators. They are much more influenced by external events, such as an Arab oil embargo, Dotcom bubble bursts, housing market crashes, or world-wide pandemics.

But here's the most interesting thing--the disposable income per capita in constant 2023 dollars (adjusted for inflation):
Biden: $46,557
Trump: $48,286
Obama: $48,811
Bush Jr.: $49,141
Clinton: $53,895
Bush Sr.: $54,005
Reagan: $60,887
Carter: $67,143
Ford: $95,602
Nixon: $110,961
LBJ: $130,520

In other words, the real purchasing power of the average working person is today only about 35% of what it was in 1963! Is it any wonder that families need 2 earners working more than one job each, just to get by?

And it didn't matter which flavor of President was in office--R or D; disposable income went down every Presidential term for the last 60 years.

Meanwhile, the disposable income of the top 1% has grown at greater than the GDP growth rate. Why is that?

A RAND Corporation report from 2020 examined this in detail:

www.rand.org...

They showed that the main reason for this redistribution of almost 50 Trillion dollars to the wealthiest 1% is the adoption of "trickle down" tax laws in which it is assumed that if you give billionaires a tax break they will pass along some of the crumbs to the bottom 99%.

Turns out that's bull# and it was a choice we made as a society. It wasn't that way for the 25 or so years after WWII, in which the working class income mostly matched GDP growth. Those are the days that most Trump supporters long to return to, when a single worker without a college education could buy a house, raise a family and have a '57 Chevy in the driveway.

If you want to help out us peons in the bottom 99%, you've got to have tax laws for which that is the actual goal.

a reply to: Boomer1947

That's bullspit.

Families don't need two incomes.

My wife and I did great on just one, we just didn't raise our standard of living to what 2 incomes is supposed to provide.

originally posted by: DAVID64
a reply to: Ravenwatcher

Tshirt is missing ammo prices. I am not amused.

My wife and I went to brunch today, she ordered breakfast, I ordered lunch.

My cheeseburger was huge, hand formed patty that poked out of the bun all the way around. It was about two and a half inches high with all the trimmings. It came with a side of fries that filled the plate. It is so large it needs to be served with a knife to cut it in half. I also had a refillable coke.

My wife had the senior country fried steak, the best tasting one we have ever had. It came with a side of hash browns that filled the rest of the plate and two fried eggs.

My cheeseburger and fries cost $9 and the refillable coke, $2
My wife's breakfast came to $8

Total cost, $19
We tipped the waitress $5 and the bus boy who kept my coke and my wifes water full anaother $2 and now, hours later we are still full.

You all are eating at the wrong establishments.


Edit to add. One of the reasons this place can do this is that it is independently owned and run. They have no higher management or stockholders to pay. They have no book keepers other than themselves. They have no advertising to pay for rather they rely upon w ord of mouth.

Relying on corporate owned fast food joints that will pop food out in a bag in minutes, no wonder it cost so much....

a reply to: Boomer1947

But Boomer, the Republican God, Reagan, said that that was the only way, give the wealthiest more money and tax them less and it will all work out for the best. And we all knew that we should trust Reagan cuz he was a beloved B grade movie star who sold us soap once his acting career was over.

a reply to: CriticalStinker

Deficit to GDP jumped hugely in 2020 and has stayed high.

While its not 100% on joe in 2020, 21,22,23 excessive spending certainly is on him and his party.

a reply to: Ravenwatcher

The economy is feeling the domino effect.
When one thing changes you can usually adjust pretty easily and not notice too much change..
Unfortunately we are experiencing the effect of several factors that are effecting everything else.

The pandemic started the whole fiasco with all of the issues it caused.
Throw in all of the riots that cost the insurance companies billions so rates go up across the board.
Oil went up raising fuel, fertilizer and plastic prices.
The war in Ukraine screwed up grain exports raising those prices.
Now interest rates are though the roof costing businesses loads of extra money on their credit lines.

All of that and a president that has obviously lost all of his mental faculties….

We are probably lucky that butter is only $6 a pound.

a reply to: BingoMcGoof

The two places I went to for brunch (pre-kids), I cannot find an online menu with prices for.

I looked up the prices at a local truck stop, just to get a price comparison.

Chicken fried steak and eggs $17
Cheeseburger and Fries $14
Fountain drink $4

So $35 plus tip in my location. (I double checked a local pub who serves/served a 1/2 lbs. burger comparable to what you described for $14.50)
Not disagreeing with you, but showing how differently prices are across the states.

ETA. All the prices were from independently owned places. Not chains.

originally posted by: Irishhaf
a reply to: CriticalStinker

Deficit to GDP jumped hugely in 2020 and has stayed high.

While its not 100% on joe in 2020, 21,22,23 excessive spending certainly is on him and his party.

For sure, the Biden admin has added fuel to the fire. But the two of them combined own a little over a third total debt. Absolutely alarming two one term presidents are responsible for a third of a massive debt. We’re running the worst two candidates modern America has seen.

A year ago our low income all utilities paid apartment complex was bought by out of state investors.

The majority of our residents were elderly disabled and single mother families.

They raised the rents and added utilities based on National Averages instead of actual usage because there were no meters on the units.

Most people disappeared overnight rather than sign a new lease with the new rates rules and restrictions.

We have lived here for 18 years as both my husband and I are disabled and the last year we have been living on pasta and tuna helper because after bills are paid we have roughly 130 dollars left over for groceries and consumables.

We went from paying 675 all bills paid to over 1000 dollars a month and next month at the end of our lease we're relocating to live with family 45 minutes outside of town to help them with expenses as well as to provide for ourselves.

We have no car because not only could we not afford one with gas upkeep and insurance but because everything we needed was in walking distance of our apartment at the time.

Our small town sold out for the tourist dollar...got National attention and people are moving here in droves.

The traffic is unsustainable and overwhelming prices for local establishments and food have doubled or even tripled and we have to flee what we thought would be our sanctuary because of investors and new residents flocking to the region.

I haven't had internet for several months because we couldn't afford the cost and I've been posting from my phone using my data plan.

Tell me again how hard it is paying elevated costs for a meal out again.

It must be hard having to suffer so.

If it weren't for family we'd be homeless with nothing to our name.

Think about all the homeless in similar situations.

If all you have to complain about is the price of eating out the price increases in meat and gas you're doing pretty damn good comparatively.

Do us all a favor and use your resources and voting power to set things straight.

a reply to: Ravenwatcher

It's BS. And even worse in a downtown area. Even Burger King is up to $2.99 for a cheeseburger. But there are $5 meals that still exist.

At sell down market outlets or Smart & Final. Get the stuff closer to expiration. Save about 130% overall. Screw Albertsons. Screw Vons. I can get their selldown crap for 25-50% the price. Grocery bill around 500/month, which would be around $1,100 at the non discount places.

You just can't be selective. You go with what they get in.

The reason why your cost of living has gone up dramatically, is that it is a combination of the national debt skyrocketing, your currency being horribly devalued, and you being in direct competition with your own tax dollars in the marketplace. IE, the welfare state. Food Stamp use is at an all time high. WIC, and Food Stamps being used EVERYWHERE that sells food, means more people have more money to spend. If you live in an area that is less subsidized, such as a place with high employment, or in a wealthier part of town with less shoplifting, you will see prices being more reasonable.

Because there is huge amounts of unpunished retail theft, because you have half the people in this country on the dole, and you have retailers adjusting their prices to stave off demand, you are paying 6 to 12 dollars for a pound of butter, and 4 to 9 dollars for two dozen eggs.

Welcome to economics 101

a reply to: Ravenwatcher

originally posted by: lilzazz
Paid $2.29 for a gal of gas when I filled up today.... Who gets the credit for this.

Where do you live??!! Gas is $3.86 currently where I'm at.

a reply to: lilzazz

Paid $2.29 for a gal of gas when I filled up today.... Who gets the credit for this.

seasonal demand has decreased, seasonal blend factors have changed and cheaper to produce, cost of oil is not as high,
but don't worry, OPEC Plus has agreed to cut production so it will go back up.

bidennomics hasn't got a thing to do with it

So a kid in Indiana will have to work a hour for 4 sticks of butter ?


"The Indiana minimum wage is $7.25 an hour, the same as the federal minimum wage. Employers that have two or more employees must follow this minimum wage."

After Taxes thats slavery .

originally posted by: nugget1

originally posted by: lilzazz
Paid $2.29 for a gal of gas when I filled up today.... Who gets the credit for this.

Where do you live??!! Gas is $3.86 currently where I'm at.

$4.06 currently where I am. And that's with the cheaper not summer blend.

originally posted by: Ravenwatcher
So a kid in Indiana will have to work a hour for 4 sticks of butter ?


"The Indiana minimum wage is $7.25 an hour, the same as the federal minimum wage. Employers that have two or more employees must follow this minimum wage."

After Taxes thats slavery .

I'm not sure what you are asking. In regards to butter, what I saw is what it costs is around $6 for 4 sticks (one pound). Or just under 1 hour of pay (excluding taxes) to buy a pound of butter.

How do you get 4 hours pay?

I recognized I misread the post

originally posted by: SteamyAmerican
Again. Recently I read that parking lots are now being used to reinforce the idea that living out of one’s car is “affordable housing”.

Considering it’s been awhile since I hear of anyone speak of the American Dream I find this sickeningly remarkable.

Just like the 'tiny homes' videos that youtube keeps pushing to me , even though I've never watched even one. They want us to live tiny and off course not own it, all while working harder then ever. Things will collapse, it's inevitable.

a reply to: randomtangentsrme

Yeah, I know this is true. Prices are up, the place I mentioned got me the same stuff for five bucks less two years ago. But the thing is is that prices do vary and one of the reasons other than the stuff we all mention is that we, the consumer do not resist and keep on spending in those more expensive places and then grip about it. My take is that we have become to dependent upon luxury, even people with not enough disposable income still want the luxury of driving up to a window, getting their food in a bad a couple of minutes later. That's luxury.