Economics

Economics in the 1950s and 1960s
The 1950s saw a great increase in the American Economy. The G.I Bill gave veterans the opportunity to get an education, which led to higher paying jobs. More people are became employed, resulting in an economic boom. Since people had more money they started to spend more, allowing money to circulate throughout the economy. The invention of the Credit Card allowed people to go into debt in order to maintain the American lifestyle. However, 25% of citizens were still in poverty during this time. President Eisenhower played a huge role in making America an economic superpower.  Later in the 1960s, the government began to expand its role to support Americans. The government started spending more money. The economy was increasing during this time. Also, American incomes doubled by 1969.