| 1929 |
$17 |
16% |
Market crash |
| 1930 |
$16 |
17% |
Smoot-Hawley reduced trade |
| 1931 |
$17 |
22% |
Dust Bowl drought raged |
| 1932 |
$20 |
34% |
Hoover raised taxes |
| 1933 |
$23 |
40% |
New Deal increased GDP and debt |
| 1934 |
$27 |
40% |
|
| 1935 |
$29 |
39% |
Social Security |
| 1936 |
$34 |
40% |
Tax hikes renewed depression |
| 1937 |
$36 |
39% |
Third New Deal |
| 1938 |
$37 |
42% |
Dust Bowl ended |
| 1939 |
$40 |
51% |
Depression ended |
| 1940 |
$43 |
49% |
FDR increased spending and raised taxes |
| 1941 |
$49 |
44% |
U.S. entered WWII |
| 1942 |
$72 |
48% |
Defense tripled |
| 1943 |
$137 |
70% |
|
| 1944 |
$201 |
91% |
Bretton Woods |
| 1945 |
$259 |
114% |
WWII ended |
| 1946 |
$269 |
119% |
Truman's 1st term budgets and recession |
| 1947 |
$258 |
103% |
Cold War |
| 1948 |
$252 |
92% |
Recession |
| 1949 |
$253 |
93% |
Recession |
| 1950 |
$257 |
86% |
Korean War boosted growth and debt |
| 1951 |
$255 |
74% |
|
| 1952 |
$259 |
71% |
|
| 1953 |
$266 |
68% |
Recession when war ended |
| 1954 |
$271 |
69% |
Eisenhower's budgets and Recession |
| 1955 |
$274 |
64% |
|
| 1956 |
$273 |
61% |
|
| 1957 |
$271 |
57% |
Recession |
| 1958 |
$276 |
58% |
Eisenhower's 2nd term and recession |
| 1959 |
$285 |
55% |
Fed raised rates |
| 1960 |
$286 |
54% |
Recession |
| 1961 |
$289 |
52% |
Bay of Pigs |
| 1962 |
$298 |
50% |
JFK budgets and Cuban missile crisis |
| 1963 |
$306 |
48% |
U.S. aids Vietnam, JFK killed |
| 1964 |
$312 |
46% |
LBJ's budgets and war on poverty |
| 1965 |
$317 |
43% |
U.S. entered Vietnam War |
| 1966 |
$320 |
40% |
|
| 1967 |
$326 |
40% |
|
| 1968 |
$348 |
39% |
|
| 1969 |
$354 |
36% |
Nixon took office |
| 1970 |
$371 |
35% |
Recession |
| 1971 |
$398 |
35% |
Wage-price controls |
| 1972 |
$427 |
34% |
Stagflation |
| 1973 |
$458 |
33% |
Nixon ended gold standard and OPEC oil embargo |
| 1974 |
$475 |
31% |
Watergate and budget process created |
| 1975 |
$533 |
32% |
Vietnam War ended |
| 1976 |
$620 |
33% |
Stagflation |
| 1977 |
$699 |
34% |
Stagflation |
| 1978 |
$772 |
33% |
Carter budgets and recession |
| 1979 |
$827 |
32% |
|
| 1980 |
$908 |
32% |
Volcker raised fed rate to 20% |
| 1981 |
$998 |
31% |
Reagan tax cut |
| 1982 |
$1,142 |
34% |
Reagan increased spending |
| 1983 |
$1,377 |
37% |
Jobless rate 10.8% |
| 1984 |
$1,572 |
38% |
Increased defense spending |
| 1985 |
$1,823 |
41% |
|
| 1986 |
$2,125 |
46% |
Reagan lowered taxes |
| 1987 |
$2,350 |
48% |
Market crash |
| 1988 |
$2,602 |
50% |
Fed raised rates |
| 1989 |
$2,857 |
51% |
S&L Crisis |
| 1990 |
$3,233 |
54% |
First Iraq War |
| 1991 |
$3,665 |
58% |
Recession |
| 1992 |
$4,065 |
61% |
|
| 1993 |
$4,411 |
63% |
Omnibus Budget Act |
| 1994 |
$4,693 |
64% |
Clinton budgets |
| 1995 |
$4,974 |
64% |
|
| 1996 |
$5,225 |
64% |
Welfare reform |
| 1997 |
$5,413 |
63% |
|
| 1998 |
$5,526 |
60% |
LTCM crisis and recession |
| 1999 |
$5,656 |
58% |
Glass-Steagall repealed |
| 2000 |
$5,674 |
55% |
Budget surplus |
| 2001 |
$5,807 |
55% |
9/11 attacks and EGTRRA |
| 2002 |
$6,228 |
57% |
War on Terror |
| 2003 |
$6,783 |
59% |
JGTRRA and Iraq War |
| 2004 |
$7,379 |
60% |
Iraq War |
| 2005 |
$7,933 |
61% |
Bankruptcy Act and Hurricane Katrina. |
| 2006 |
$8,507 |
61% |
Bernanke chaired Fed |
| 2007 |
$9,008 |
62% |
Bank crisis |
| 2008 |
$10,025 |
68% |
Bank bailout and QE |
| 2009 |
$11,910 |
82% |
Bailout cost $250B ARRA added $242B |
| 2010 |
$13,562 |
90% |
ARRA added $400B, payroll tax holiday ended, Obama Tax cuts, ACA, Simpson-Bowles |
| 2011 |
$14,790 |
95% |
Debt crisis, recession and tax cuts reduced revenue |
| 2012 |
$16,066 |
99% |
Fiscal cliff |
| 2013 |
$16,738 |
99% |
Sequester, government shutdown |
| 2014 |
$17,824 |
101% |
QE ended, debt ceiling crisis |
| 2015 |
$18,151 |
100% |
Oil prices fell |
| 2016 |
$19,573 |
105% |
Brexit |
| 2017 |
$20,245 |
104% |
Congress raised the debt ceiling |
| 2018 |
$21,516 |
105% |
Trump tax cuts |
| 2019 |
$22,719 |
107% |
Trade wars |
| 2020 |
$27,748 |
129% |
COVID-19 and 2020 recession |
| 2021 |
$29,617 |
124% |
COVID-19 and American Rescue Plan Act |
| 2022 |
$30,824 |
123% |
Inflation Reduction Act and student loan forgiveness |