Monday, June 13, 2011

Fixed Dollars

Mike Needham's latest article takes on American Pessimism pointing out how much government support for a dependent person has grown since 1962.
Between 1962 and 2009, government support for a dependent person grew from just over $7,000 to nearly $32,000. They’re policies, like Obamacare, will only accelerate the trend we’ve seen over the past forty years.
That's pretty interesting. Of course, due to inflation, dollars are not constantly the same value. A 1962 dollar is worth $7.10 2009 dollars. Which means $7,000 in 1962 actually translates out to $42,727.30 in 2009 dollars.

Of course it's possible he's accounted for constant dollars. Impossible to say really.

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