U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old Yesterday, 10:36 AM
 
1,115 posts, read 233,158 times
Reputation: 1840

Advertisements

The following are from https://www.govinfo.gov/app/collection/budget/2020. (MODERATORS: I believe this data is not subject to copyright restrictions as it is from the official .gov website above):

There is no specific point or argument to the data below - I just thought some of this info coming out of the 2020 budget comparing 1960 to today was fascinating.



Pure economic:
  • Real GDP per person has more than tripled since 1960, rising from $18,036 in 1960 to $55,373 in 2017 (as measured in constant 2012 dollars).
  • Inflation has reduced the buying power of the dollar over time such that $1 in 2016 had about the same buying power as 12.3 cents back in 1960, according to the Consumer Price Index.
  • The employment/population ratio rose from 56.1% in 1960 to 64.4% by 2000, then dropped to 58.5% in 2012, before rebounding a bit to 62.9% in 2018.
  • The share of the population receiving Social Security disabled worker benefits was 0.9% in 1960 and 5.5% in 2018.
  • The net national savings rate was 10.9% of GDP in 1960, 7.1% in 1980, and 6.0% in 2000. It actually was slightly negative at -0.5 in 2010, but was back to 2.9% in 2017.
  • Research and development spending has barely budged over time: it was 2.52% of GDP in 1960 and 2.78% of GDP in 2017, and hasn't varied much in between.

Demographic
  • The foreign-born population of the US was 9.6 million out of a total of 204 million in 1970, and was 44.5 million out of at total of 325.7 million in 2017.
  • In 1960, 78% of the over-15 population had ever been married; in 2018, it was 67.7%.
  • Average family size was 3.7 people in 1960, and 3.1 people in 2018.
  • Single parent households were 4.4% of households in 1960, and 9.1% of all households in 2010, but slightly down to 8.3% of all households in 2018.

Socioeconomic
  • The share of 25-34 year-olds who are high school graduates was 58.1% in 1960, 84.2% in 1980, and 90.9% in 2018.
  • The share of 25-34 year-olds who are college graduates was 11% in 1960, 27.5% in 2000, and 35.6% in 2017.
  • The average math achievement score for a 17 year-old on the National Assessment of Educational Progress was 304 in 1970, and 306 in 2010.
  • The average reading achievement score for a 17 year-old was 285 in 1970 and 286 in 2010.

Health
  • Life expectancy at birth was 69.7 years in 1960, and 78.7 years in 2010, and 78.6 years in 2017.
  • Infant mortality was 26 per 1,000 births in 1960, and 5.8 per 1,000 births in 2017.
  • In 1960, 13.4% of the population age 20-74 was obese (as measured by having a Body Mass Index above 30). In 2016, 40% of the population was obese.
  • In 1970, 37.1% of those age 18 and older were cigarette smokers. By 2017, this has fallen to 14.1%.
  • Total national health expenditures were 5.0% of GDP in 1960, and 17.9% of GDP in 2017.

Security and Safety
  • The murder rate was 5.1 per 100,000 people in 1960, rose to 10.2 per 100,000 by 1980, but had fallen back to 4.9 per 100,000 in 2015, before nudging up to 5.3 per 100,000 in 2017.
  • The prison incarceration rate in federal and state institutions was 118 per 100,000 in 1960, 144 per 100,000 in 1980, 519 per 100,000 by 2010, and then down to 464 per 100,000 in 2016.
  • Highway fatalities rose from 37,000 in 1960 to 51,000 in 1980, and then fell to 33,000 in 2010, before nudging up to 37,000 in 2017.


Energy
  • Energy consumption per capita was 250 million BTUs in 1960, rose to 350 million BTUs per person in 2000, but since then has fallen to 300 BTUs per person in 2017.
  • Energy consumption per dollar of real GDP (measured in constant 2009 dollars) was 14,500 BTUs in 1960 vs. 5,700 in 2017.
  • Electricity net generation on a per person basis was 4.202 kWh in 1960, had more than tripled to 13,475 kWh by 2000, but since then has declined to 12,326 kWh in 2017.
  • The share of electricity generation from renewable sources was 19.7% of the total in 1960, fell to 8.8% by 2005, and since then rose to 17.1% of the total in 2017.

Any thoughts?
Reply With Quote Quick reply to this message

 
Old Yesterday, 11:10 AM
 
Location: Aurora Denveralis
5,929 posts, read 2,093,570 times
Reputation: 9209
No big surprises, although some startling reminders.

I think the drop in energy use is almost wholly attributable to CFL and LED lighting. Of course, computers probably increased it by five times as much.

The most disturbing change is that of national savings rate, especially given the 9:1 devaluation of the dollar.

Last edited by Quietude; Yesterday at 11:24 AM..
Reply With Quote Quick reply to this message
 
Old Yesterday, 12:08 PM
 
1,303 posts, read 421,627 times
Reputation: 3401
I'd say it's pretty clear that the decrease in smoking has caused an increase in obesity.
Reply With Quote Quick reply to this message
 
Old Yesterday, 12:28 PM
 
7,462 posts, read 4,795,169 times
Reputation: 12896
The upshot is that cumulative inflation over almost 60 years has only been around a factor of 8. That is shockingly... low. One is tempted to romanticize, how a penthouse in Manhattan could have been bought in 1960 for $5000, a fine dinner at a top restaurant for $3, and a penny was enough to buy a candy-bar. In reality, these numbers would have been low even for 1860. Other than healthcare and college-tuition, it's pretty shocking how LITTLE prices have increased.

The obesity-numbers are also hard to square. I would have thought that in 1960, fewer than 20% were obese... and today, far more than 40%. It's easy to be deluded by personal experience. In my locale, few people - who aren't homeless and/or addicted to meth - aren't obese. Walking (to the extent that this ever happens) around my town, I feel like I was recently liberated from Auschwitz. Walking around a typical European town, I feel like the Michelin Man.

The national high-school graduation rate looks reasonable, but is also misaligned with local evidence. A search on this very web site reveals that our town has more high-school dropouts than college graduates.

And don't get me started on the proportion who are on disability....
Reply With Quote Quick reply to this message
 
Old Yesterday, 02:54 PM
 
4,440 posts, read 2,435,075 times
Reputation: 7950
Understand there is an inverse relationship between population and resources per person. As populations grow and automation/AI remove manual labor requirements there will be significant pressure on resources and the associated models of distribution. It will only intensify over time.

If we were an evolved species we would recognize this and begin to implement significant policies toward population reduction and control.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:01 PM
 
1,303 posts, read 421,627 times
Reputation: 3401
Quote:
Originally Posted by SWFL_Native View Post
If we were an evolved species we would recognize this and begin to implement significant policies toward population reduction and control.
Countries with shrinking populations- either through draconian political measures or cultural changes (people marrying later, having fewer children) are finding that they have a smaller number of people in the workforce supporting a larger number of older people. Look up "demographic time bomb". Japan is an example of a country with cultural changes that have reduced the number of births. While I can understand the reasons for population reduction and control, they solve one problem but create others which must be addressed.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:40 PM
 
Location: 5,400 feet
2,455 posts, read 2,468,536 times
Reputation: 3357
Quote:
Originally Posted by Quietude View Post
No big surprises, although some startling reminders.

I think the drop in energy use is almost wholly attributable to CFL and LED lighting. Of course, computers probably increased it by five times as much.

The most disturbing change is that of national savings rate, especially given the 9:1 devaluation of the dollar.
Natural gas consumption per household using natural gas has dropped 40-50% since the 1960s.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:37 PM
 
Location: Aurora Denveralis
5,929 posts, read 2,093,570 times
Reputation: 9209
Quote:
Originally Posted by athena53 View Post
Countries with shrinking populations- either through draconian political measures or cultural changes (people marrying later, having fewer children) are finding that they have a smaller number of people in the workforce supporting a larger number of older people. Look up "demographic time bomb". Japan is an example of a country with cultural changes that have reduced the number of births. While I can understand the reasons for population reduction and control, they solve one problem but create others which must be addressed.
Reducing birthrate is a worthy goal, but it can't be done in one generation, or you end up with that "tree" demographic chart, loaded heavily with an elder population. National and global population reduction can only be done across a century or more without creating more problems than it solves.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:39 PM
 
Location: Aurora Denveralis
5,929 posts, read 2,093,570 times
Reputation: 9209
Quote:
Originally Posted by ohio_peasant View Post
The upshot is that cumulative inflation over almost 60 years has only been around a factor of 8. That is shockingly... low.
Inflation is something of a manufactured index. A dollar is simply a unit of shared wealth; that a healthy economy slowly reduces the value of each unit is... interesting but not very meaningful.

It's only when units earned or saved at one level are very suddenly reduced in value that it's a problem.
Reply With Quote Quick reply to this message
 
Old Yesterday, 07:29 PM
 
1,115 posts, read 233,158 times
Reputation: 1840
The essentially stable R&D expenditure was something I didn't expect.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top