An "Age of Affluence" (jul 2, 1950 – jul 2, 1960)
Description:
Proof:- American GNP grew from $318 billion in 1950 to $488 billion in 1960
- Average incomes twice those in 1920s
- By 1960, 60% of Americans owned their own homes, 75% cars, 87% at least 1 TV
- 33% of Americans lived in suburbs by 1960
Disproof:
- Eisenhower Recessions where unemployment was at 7.6%
- National debt at $290 million in 1960
Added to timeline:
Date:
jul 2, 1950
jul 2, 1960
~ 10 years