Retrogressive Legislation Reduces Federal Spending to 1966 Level
Conservatives in the House of Representatives say they want a solution to the debt ceiling crisis—but what they really want is a time machine. Center for American Progress experts Sarah Ayres and Michael Linden point out in an AmericanProgress.org column that House conservatives have proposed budget legislation that would endorse restricting federal spending to 18 percent of gross domestic product. The last time we had spending that low was 1966.
Not even congressional representatives can turn back the clock. The world of 2011 is simply different than the world of 1966:
-Life expectancy has increased by nine years.
-The U.S. population has increased from 196,560,338 to 308,745,538.
-The percent of the population over the age of 65 has increased from 9.2 percent to 12.9 percent.
-The number of people in poverty has increased from 28,510,000 to 43,569,000.
-The minimum wage has decreased from $8.41 in 1966 to $7.25 in 2010.
Clearly, cutting the federal budget to 1966 levels could have potentially disastrous effects for the American people. Take a look at this infographic to see why the federal budget is no forum for a ‘60s revival.