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This afternoon I was listening to the economic plan of a presidential candidate. It included $6,000 for a new baby, more money for child care, money toward buying a home and more. Absent was any reference to deficits or debt.
In any case, I thought back to our life raising four children on one income and in the early years on a glorified clerks salary. I do recall sky high inflation in the 80s and no gas in the 70s
I don’t recall any subsidies or tax credits or rebates. No assistance buying our first very modest starter home with a 9-1/2% mortgage and required 10% down payment. No child care payments – that was Connie.
Somehow we made it all work. We didn’t live on credit. What is so different about 2024?
What didn’t we have or do that is considered a necessity today?
How did we get by on one income when today two incomes seem inadequate?
Political promises have also inflated. We are a long way from “a chicken in every pot.”
It is not lifestyle ” creep”, rather it is a lifestyle, “speeding along at light speed, squared.” Larger homes, more gadgets, huge SUVS and pick up trucks, body piercings and tattoos, etc. If someone spends a thousand on a tattoo, for example, at 18 years old, rather than putting it in a Roth, that could be, gross of inflation, a whopping $ 32,000 error, over 50 years. And, please , stop buying bottled water. At many venues, water is sold for15 bucks a pint. that is a tremendous $120.00 per GALLON! Of course, gasoline is much too pricey,in my area, about 3 a gallon. Hmmmm?
Ye gads, you sound like me. Better be careful, you will end up the new much maligned ranter in residence.
I do agree there has been some lifestyle creep in expectations over the years. But I’m not sure that is a bad thing. It seems this post touched a nerve-as Quinn notes, it’s election season. It’s surely a coincidence that his 2 posts this week were pro-billionaire and questioning government support from a presidential candidate as a lead-in.
I think you are right, the political rhetoric may have triggered my writing, on these subjects as it is hard to escape it, but with no political agenda other than thinking about the issues beyond rhetoric and perhaps a tad closer to reality.