Loading ...And pretty much everything costs about twenty times more these days since the 1970s. So, a $20 trillion national debt is really only about a measly $1 trillion.
The $3 trillion spending package is really chump change, like $150 billion. Your $1,000,000 home is really only $50,000. If you were a millionaire in the 1970s you need $20 million today to boast you are worth $1 million.
And if you paid $50,000 for a house back in the 1970s, it has to be $1 million today to break even. If you add outside costs like maintenance and insurance, or interest charges on the loan you would probably need $1.5 million to break even.
Gasoline? It’s cheaper than my lifetime of driving. It was .25 cents/gal, times 20? It should be $5/gal today. $3.50/gal is cheap. A pack of 8 Hamberger buns is $4.00. One gallon of gas could take you 15 to 30 miles away for $3.50. One gallon of gas is worth FAR more than 8 burger buns.
If you go back to 1934 or the 1940s everything is probably 40 times more dollars needed for the same thing. I once saw a receipt for a new 1950 Chevy my uncle bought, it was $1,000. New chevy today?? $40-$50,000? Henry Fords new Model Ts in the 1920S? were between $300 and $600? New Fords today would be about 75 times more.
Don’t let crazy numbers fool you.