Is Americas standard of living falling?

[rightwinger]

I'm 53 years old and have seen the living standard of Americans noticably fall within my lifetime.
My dad graduated HS in 1950 and went to work for Bell Telephone. It was a good job at the time, but he basically climbed poles and repaired line breaks. On his salary alone (my mom raised the kids), he was able to raise four kids, send all four to college, buy a 3 BR house on an acre of land, get healthcare through his union at no cost to him, keep two cars and retire at 60.
I went to college and got a degree in Engineering. It cost me a total of $10,000 which includes room and board and all expenses. I graduated with no college debt and moved out of the house and was self supporting at 21. I have been working for over 30 years and raised two kids, my wife worked and I live in a house approximately the same size as my father. With an advanced degree and only two kids, my standard of living should have been much higher than my dads.
My kids are now in their early 20's. My oldest is 25, has a degree in architecture and still lives at home. Because of massive college debt and the astronomical costs of housing, there is no way for him to live on his own right now. I'd complain but most kids he graduated with still haven't moved out on their own. They just can't afford it.

I look at people who have the education and job level of my dad and see there is no way they could afford the lifestyle of my dad. The American dream we once knew is slowly slipping away. Workers need to get more education, have spouses work and reduce the size of their families to maintain the same lifestyle their parents had

 

[nodoginnafight]

How many laptops, cell phones, flat screen TVs, Microwave ovens, video gaming systems, DVD players, food choices, restaurant choices, did your dad have?

Life expectancy has increased over the last two generations.

There are a lot of things that contribute to "standard of living" that we have now that weren't around back then.

You might not put much value in a lot of these things but a lot of people do.

 

[VaYank5150]

There are a lot of things that contribute to "standard of living" that we have now that weren't around back then.

Let's not forget all of the jobs that have been outsouorced to cheap labor countries since 1950....

 

[Shogun]

yea.. it's a laptop and xbox that normalizes this generational lowering of our SOL!



as if gramps DIDNT have disposable income too!

 

[nodoginnafight]

I like air conditioning and icemakers. Heck I like computers and cell phones too.

I feel very blessed to have been born when and where I was.

 

[rightwinger]

I like air conditioning and icemakers. Heck I like computers and cell phones too.

I feel very blessed to have been born when and where I was.

No question there are more toys now and more progress.
But what about the essentials?
Healthcare has skyrocketed, college costs have shyrocketed, housing costs have skyrocketed. If you can afford more it is probably because you have two incomes and fewer children. Individual salaries have not kept pace with the rising cost of living

 

[MarcATL]

I'm 53 years old and have seen the living standard of Americans noticably fall within my lifetime.
My dad graduated HS in 1950 and went to work for Bell Telephone. It was a good job at the time, but he basically climbed poles and repaired line breaks. On his salary alone (my mom raised the kids), he was able to raise four kids, send all four to college, buy a 3 BR house on an acre of land, get healthcare through his union at no cost to him, keep two cars and retire at 60.
I went to college and got a degree in Engineering. It cost me a total of $10,000 which includes room and board and all expenses. I graduated with no college debt and moved out of the house and was self supporting at 21. I have been working for over 30 years and raised two kids, my wife worked and I live in a house approximately the same size as my father. With an advanced degree and only two kids, my standard of living should have been much higher than my dads.
My kids are now in their early 20's. My oldest is 25, has a degree in architecture and still lives at home. Because of massive college debt and the astronomical costs of housing, there is no way for him to live on his own right now. I'd complain but most kids he graduated with still haven't moved out on their own. They just can't afford it.

I look at people who have the education and job level of my dad and see there is no way they could afford the lifestyle of my dad. The American dream we once knew is slowly slipping away. Workers need to get more education, have spouses work and reduce the size of their families to maintain the same lifestyle their parents had

What you have just described my friend, is the realization that the American Dream is, and has been for a long, long time now, a MYTH. Guess what, its only going to get worse. So buckle up and get ready for a fun and wild ride.

 

[nodoginnafight]

I like air conditioning and icemakers. Heck I like computers and cell phones too.

I feel very blessed to have been born when and where I was.

No question there are more toys now and more progress.
But what about the essentials?
Healthcare has skyrocketed, college costs have shyrocketed, housing costs have skyrocketed. If you can afford more it is probably because you have two incomes and fewer children. Individual salaries have not kept pace with the rising cost of living

I know some may interpret this as anti-woman, but when so many women opted to stay in the workforce after WW II, it drove up the supply of workers while the demand for workers didn't increase by that much.

IMHO We also have to consider that now, more than ever, American workers are having to compete with workers from around the world. And again, my opinion is that protectionism isn't the answer because that would just dry up demand for American goods and services.

But I know I personally have a much higher standard of living than my grandfather did. And I don't have to work nearly as many hours to sustain it. I don't ever remember him taking vacations. He might take time off to go visit family in another city, but hop on a plane to go experience some different places and cultures? NEVER.

 

[VaYank5150]

And again, my opinion is that protectionism isn't the answer because that would just dry up demand for American goods and services.

Which in turn, could start a conversation about unions, and you don't want to get me started on those!

 

[rightwinger]

I know some may interpret this as anti-woman, but when so many women opted to stay in the workforce after WW II, it drove up the supply of workers while the demand for workers didn't increase by that much.

Women entering the workforce was a good thing. It provided them with a degree of independence and and self worth. The problem is that it has not significantly raised our standard of living like you would think it would. The market has just adjusted to eat up the additional income

 

[Shogun]

it's funny to see you people talk about the "drying up of demand for American goods" in this age of trade deficits. Seriously. The talking points and speeches about microwaves and playstations just doesn't gel with the fact of third world pauper competition for labor. Especially when the punchline of your fear of tariffs is the massive trade deficit.

 

[nodoginnafight]

I know some may interpret this as anti-woman, but when so many women opted to stay in the workforce after WW II, it drove up the supply of workers while the demand for workers didn't increase by that much.

Women entering the workforce was a good thing. It provided them with a degree of independence and and self worth. The problem is that it has not significantly raised our standard of living like you would think it would. The market has just adjusted to eat up the additional income

I agree - I'm glad women have more control of their own lives and have choices now that were previously unavailable to them. But like you said, It hasn't "doubled" family buying power as one might have expected. (note: I don't have family buying power statistics to back that up, but it's just what I have subjectively observed)

 

[Ringel05]

I'm 53 years old and have seen the living standard of Americans noticably fall within my lifetime.
My dad graduated HS in 1950 and went to work for Bell Telephone. It was a good job at the time, but he basically climbed poles and repaired line breaks. On his salary alone (my mom raised the kids), he was able to raise four kids, send all four to college, buy a 3 BR house on an acre of land, get healthcare through his union at no cost to him, keep two cars and retire at 60.
I went to college and got a degree in Engineering. It cost me a total of $10,000 which includes room and board and all expenses. I graduated with no college debt and moved out of the house and was self supporting at 21. I have been working for over 30 years and raised two kids, my wife worked and I live in a house approximately the same size as my father. With an advanced degree and only two kids, my standard of living should have been much higher than my dads.
My kids are now in their early 20's. My oldest is 25, has a degree in architecture and still lives at home. Because of massive college debt and the astronomical costs of housing, there is no way for him to live on his own right now. I'd complain but most kids he graduated with still haven't moved out on their own. They just can't afford it.

I look at people who have the education and job level of my dad and see there is no way they could afford the lifestyle of my dad. The American dream we once knew is slowly slipping away. Workers need to get more education, have spouses work and reduce the size of their families to maintain the same lifestyle their parents had

One thing you did not take into account. Historically cost of living doubles every 10 years, on average. Do the math, what would that be in today's dollars? Also, income generally has not always kept pace with cost of living, not to mention the old keep up with the Jones's syndrome. Buying what we don't need with what we don't have to appear as what we are not.

 

[nodoginnafight]

Well, standard of living is a subjective term. I guess everyone can decide for himself or herself what they consider to be the most important things.

I will say the standard of living of black people in America is quite a bit better today than it was in the 50s. And the standard of living for women (if self determination is a factor) has improved.

 

[rightwinger]

One thing you did not take into account. Historically cost of living doubles every 10 years, on average. Do the math, what would that be in today's dollars? Also, income generally has not always kept pace with cost of living, not to mention the old keep up with the Jones's syndrome. Buying what we don't need with what we don't have to appear as what we are not.

Cost of living has doubled every ten years but salaries haven't. Women joining the workforce hasn't lead to twice the disposable income.

 

[Ringel05]

One thing you did not take into account. Historically cost of living doubles every 10 years, on average. Do the math, what would that be in today's dollars? Also, income generally has not always kept pace with cost of living, not to mention the old keep up with the Jones's syndrome. Buying what we don't need with what we don't have to appear as what we are not.

Cost of living has doubled every ten years but salaries haven't. Women joining the workforce hasn't lead to twice the disposable income.

In essence isn't that what I just said, with a few added caveats?

 

[PeterS]

I'm 53 years old and have seen the living standard of Americans noticably fall within my lifetime.
My dad graduated HS in 1950 and went to work for Bell Telephone. It was a good job at the time, but he basically climbed poles and repaired line breaks. On his salary alone (my mom raised the kids), he was able to raise four kids, send all four to college, buy a 3 BR house on an acre of land, get healthcare through his union at no cost to him, keep two cars and retire at 60.
I went to college and got a degree in Engineering. It cost me a total of $10,000 which includes room and board and all expenses. I graduated with no college debt and moved out of the house and was self supporting at 21. I have been working for over 30 years and raised two kids, my wife worked and I live in a house approximately the same size as my father. With an advanced degree and only two kids, my standard of living should have been much higher than my dads.
My kids are now in their early 20's. My oldest is 25, has a degree in architecture and still lives at home. Because of massive college debt and the astronomical costs of housing, there is no way for him to live on his own right now. I'd complain but most kids he graduated with still haven't moved out on their own. They just can't afford it.

I look at people who have the education and job level of my dad and see there is no way they could afford the lifestyle of my dad. The American dream we once knew is slowly slipping away. Workers need to get more education, have spouses work and reduce the size of their families to maintain the same lifestyle their parents had

My son is also 25 and has a double major in Business Systems Analysis and IT. Since graduating he has worked at Samsung (twice), Perot Systems, Verison, and now AT&T. All the jobs he had were contract with promises of permanent--which would be rewarded with full benefits--and all rewards have been layoffs. After three years he is still only making about 35K, which is less then what he started at, and his mother and I are taking care of his car payment and health insurance. If he doesn't make permanent at AT&T, he'll know at the end of Sept, he is moving back home and going to get his teaching certification. My daughter is 19 and will be a freshman at UTA and just starting the journey. We'll see with her.

I don't know if the American dream has slipped away but it is certainly much, much harder to achieve. My wife never had to work and I took my first early retirement at 48. I am now getting ready for my second early retirement when I reach 56. I don't see either of my kids getting the same path. It's a shame...