MuskyMelonSenator can't math
It’s apparently $3 adjusted for inflation.
I haven’t seen it under $3 in a long while
Aviandelight I managed to get gas for $2.31 on Tuesday. It was a Christmas miracle.
Why the fuck is a 92 year old man still actively holding office?
And what insane political system would allow this to happen?
This is elder abuse!
In this case both works.
This guy doesn’t get to enjoy his pension, while younger generations has to wait longer to get actual representation of their views among serving politicians.
Null User ObjectExcept, as far as we know, nobody is forcing him to be there. He could just resign today if he wanted to.
real_squidsAmericans don’t know how cheap they have it. Although adjusted for their engines and driving habits it’s probably not that much different than the rest of the world
IsoKieroAdjusted for inflation from '53 to today that’s like $3 per gallon.
Converted to metrics I understand that’s like 0,68€ a liter. That’s that‘s about a third of what you pay in Germany these days (incl. tax) on a bad day. (Typically around 1,80€/l)
FoniMy version of ‘adjusted for inflation’ is to look at what a paycheck could cover.
In 1960, the minimum wage was $1.00/hour and the average US home was $11,000.00 A high school graduate could own their own home. In those days, $1 million would buy you two fine homes, a fleet of cars, and enough left over to live off the income.
Merry Christmas.
If you’ve never seen it, watch Marilyn Monroe in “How To Marry A Millionaire.”
Two lines I always remember. The three gals walk into a Park Avenue duplex apartment and one gasps “This place must rent for $1,000.00 a month!”
They go to a nightclub with a live orchestra and a twenty girl chorus line. “My God, the cheapest thing on the menu is $5.00!”
A_norny_mousseChuckGrassley isn’t wrong, but he should have concentrated more on proper phrasing instead of using textspeak.
According to the U.S. Department of Energy, the national average for the cost of gasoline remained steady for the first three years of the 1950s at $0.27 per gallon. That low price might sound practically idyllic, but the average household income at the time was $3,300 per year. Adjusted for inflation, $0.27 in 1950 equates to about $3.52/gallon in today’s dollars. Nowadays, the median household income is $74,580.
And according to the AAA the national average as of today is $2.847.
HOWEVER, and I cannot stress this enough, this is about the only thing MAGA policy is running on (probably because they can directly influence gas prices). If you want to criticize the current government I suggest you look at the larger picture here.
What Did Gas Cost in the 1950s?
The 1950s were a transformative decade for transportation in the United States. Factors such as postwar prosperity, suburban living, and a decline in public transit led to a major increase in car ownership. At the start of the decade, approximately half of Americans owned an automobile; by 1960, nearly 75% of Americans owned at least one car, and many owned two. It was the golden age of the automobile. Of course, a car can’t go anywhere without gasoline, so what did this trend mean for the price of gas? When we look back at the past, we tend to see lower prices and feel a sense of nostalgia for more affordable times. But vintage prices can be tricky; simply looking at a raw retail price from 70 years ago doesn’t tell the whole story. Let’s look at the numbers when adjusted for inflation ...Read More
First_ThunderYou do have to take into consideration that part of the reason that prices fell is mostly Saudi Arabia deciding to pump a ton of oil, and the fear of cooler global demand (this one due to MAGA, since they caused fears of a global recession)
Fuck schumer, but I’m not sure where he’s wrong here.
Gas is absurdly cheap rn and the math seems close?
bklyn
FuglyDuckIf my napkin math is right*, he was in college between 1951 and 1956; with gas ranging from .24 to .27 dollars a gallon.
Adjusting for inflation that’s be about $2.40.
Sunday I paid 2.90 at Costco. It seems he’s full of shit.
(My napkin math is notorious for breaking the laws of physics. Best do your own… or else we might end up dividing by zero.)
For some bizarre reason I was able to get gas at $2.05 on Monday.
The next day it was back to $2.92.
Must have been a weird price war between a handful of stations that day.
I checked around and about half the gas stations in the area were around $2.05 and half were around $2.90.
It’s possible one was accidentally set and a bunch of other gas stations price matched (possibly automatically?)
whyNotSquirrelor it was cut with water
It was 1953 @ $0.25/gal. The CPI puts that at $3.00 in 2025 dollars. So literally the exact price.
FauxPseudo I’ve noticed that a common sign of dementia is thinking gas costs what it did decades ago. My step dad would be sent in to pay for gas and he’d come back thinking $10 was more than enough to fill the tank. This was when gas was $4+ a gallon.
Chuck’s math is 25¢ a gallon. As you point out that is right about the price it was when he was in his prime. His post isn’t just about lying for Trump. It’s about mental decline.
You may be asking why my step dad with dementia was being sent in unattended to pay for gas when you could pay at the pump. Denial by his primary caregiver was also a factor. Make him do as many normal things as possible and then be shocked when they didn’t work out.
Even if his math is correct, it’s a stupid point cause our incomes haven’t matched inflation and that’s all that really matters.
True, especially because isn’t gas prices one of the things that define inflation so doing that calculation doesn’t really mean anything? Also so many fewer people were driving in those days.
Boomer Humor DoomergodOur incomes should have matched productivity to get ahead. Matching inflation is just treading water.
wheezyNot to mention that gas is a larger part of the average persons budget than it was 72 years ago. We live in a car distopia without any good public transit. It’s also why looking at a single thing like gas prices is a dumb way to judge how affordable living is.
BlackmistYup at the low low cost of checks military budget oh. I love when we subsidize car drivers and oil tycoons with young people’s lives, foreign state sovereignty, and the habitability of the only planet we currently occupy.
bcgm3It’s still more expensive than the last time he tanked the economy. He can still fuck it up more.
And yet the media just repeats this bullshit until most low-info Americans think it’s the truth.
25 years ago, I regularly filled my tank for $1/gallon. Gas prices have more than quadrupled in 25 years.
To be fair, it’s also become more difficult to get oil, relying on methods such as fracking. But also, OPEC.
Guys, why aren’t you giving Trump credit for 72 years of progress in petroleum engineering and decades of wars for oil?
explodicleIf elected, I’ll make gas even more expensive, and spend the tax revenue on bus/train infrastructure.
Shut up and take my vote!
But his.math is correct?
¢25 in 1953, 72 years ago, is $3.03 when adjusted for inflation according to US Inflation Calculator.
And the current gas price is $2.4 per gallon.
It’s ¢60 cheaper per gallon now, when adjusted for inflation.
If he’s right about the price he paid, he’s also right about it being cheaper now.
It sure as hell ain’t $2.4 a gallon here.
Yeah gas is weird because our subsidization and conflicts we create everywhere for it. For instance gas was at 3.25 in 2008 and 2.14 in 2016. It isn’t as simple as saying Obama did such a great job gas fell by 58% during that time (adjusted for inflation, though I think I just Jan 1, so that’s not entirely accurate, but we get the point)
Thanks for the clarification
Now do minimum wage