reply to post by Wrabbit2000
I have done similar exercises (charts & graphs) myself. Yes, it is a lot of work.
But then one has to ask: What does it mean?
There are two things that people need to take into consideration when looking at some numbers, especially GDP.
First is the fractional reserve banking system increases GDP, but one has to ask: Is there really an increase in value? Anyone that understands how
it works, knows that real value is not created. And the CPI does not show the costs of some basics; like food costs. Why is it that growth is
sitting at less that 2 percent, when the Federal Reserve has; through "quantitative easing", printed money of the value of more than 10 percent of
Second, and perhaps more importantly is: What inventions and technological advances occurred during each Presidency? Many would like to give Reagan
credit for the 1980s economic boom, and those that claim this will point to a reduction of income tax levels as their proof. However, is this really
why there was a 1980s economic boom? I don't think so. IBM released its first personal computer in 1980. The first Apple was released a few months
earlier. The booming economy was the result of introduction of the personal computer. As more businesses gave up their Wangs for the new personal
computers, thousands of companies started and millions of jobs were created to support this industry with peripherals, add-on boards, and software.
Many of those companies are no longer in business (anybody remember WordStar?)
The early 1960s saw the introduction of relatively cheap modern conveniences, such that the average middle income family could afford. Electric
washers and dryers, colored television sets, advances in Hi-Fi electronics, electric skillets, tupperware, cheap sports cars (the Barracuda, Camaro, &
Mustang) and hundreds of other products.
The 1990s saw the introduction of the Microsoft Office suite, Windows 3.11, and then Windows 95, and finally Windows XP. It also the introduction of
the Pentium processor, mobile phones, and the first generation of the cell phone. Again, jobs were created to support these new innovations, as well
as support to upgrade businesses with this technology. Bill Gates may be a jerk, but the Microsoft Office Suite was pure business genius. Companies
were spending $500 for a word processor (Word Perfect), $500 for a spreadsheet (Lotus 123), $250 for a presentation program...and Office charged $500
for all three...they weren't as good as the others, BUT they did do the job and with Object Linking and Embedding, they worked together.
These are the real reasons for the economic booms. Thankfully, they occurred DESPITE what the government did or did not do...or what political party
was in charge of the executive branch. Let us not forget, that the House of Representatives holds the purse strings of the Federal Government, not