Some of us remember 1977, others reading here weren’t here yet, or are too young to remember!
Let’s start with $3.00 — that bought a movie ticket (and we still had drive-in theaters, and real butter on the popcorn).
Some more important 1977 markers were:
Population 220,239,425 w/ life expectancy of 73.3 years
Inflation 11 %
Consumer Price Index 60.6
Unemployment 7.7 %
Cost of a New Home $54,200
Median Household Income $13,572
First Class Stamp $0.13
Gallon of Milk $1.68
Dozen eggs $0.82
Gallon of Gas $0.68
Federal Spending $409.22 Billion
Federal Debt $706.4 Billion
In the White House, we had President Jimmy Carter (D).
The Speaker of the House was Rep. Thomas “TIP” O’Neill (D-Ma).
The Senate Majority Leader was Sen. Robert Byrd (D-WV).
1977 marked the last time that the House, the Senate, and the White House were all controlled by the Democrats.
Let’s see, a few weeks ago I paid $4.03 per gallon for gas (today it was 2.95), the milk I bought today was $4.59, a first class stamp is $0.42, the median household income was $50,233 (2007), Average cost of a home is $221,900 (Aug 2008), the unemployment rate is 5.8% (10/22/08), CPI is 218.28, and inflation is 4.94%. Of course, we know the federal spending and debt are in the trillions!
Just some food for thought as we contemplate the idea of a possible Obama administration, coupled with Speaker Nancy Pelosi and Sen. Harry Reid, all running the show!