Economics Online Tutor
U.S. Economic History from
1913: Performance and Politics
in One Simplified Table
Year
 Nominal
GDP ($B)








source:
bea.gov
 Real GDP
($B)
Chained
to 2005
Base Year





source:
bea.gov
 % Change
in Real GDP
from
Previous
Year





source:
bea.gov
 Recession
B=begin
E=end



source:
Wikipedia
"list of
recessions in
the United
States"
 Federal
Gov't
Spending
% of GDP




source:
usgovernme
ntspending.
com
 Federal
Deficit
% of GDP





source:
usgovernme
ntspending.
com
 Inflation

Average
change in
CPI-U





source:
bls.gov
 Top
Marginal
Individual
Income Tax
Rate




source:
taxfoundat
ion.org
 Top
Marginal
Corporate
Income Tax
Rate




source:
taxpolicyc
enter.org
 Unemploy
ment

Average
Rate





source:
bls.gov
 Party in
Power
(President -
Senate -
House)
1913
 39.1
 N/A
 N/A
 B- Jan
 2.48%
 0.02%
 N/A
 7%
 1%
 N/A
 D - D - D
1914
 36.5
 N/A
 N/A
 E - Dec
 2.75%
 0.20%
 1.0%
 7%
 1%
 N/A
 D - D - D
1915
 38.7
 N/A
 N/A
   2.71%
 0.56%
 1.0%
 7%
 1%
 N/A
 D - D - D
1916
 49.6
 N/A
 N/A
   2.10%
 0.31%
 7.9%
 15%
 2%
 N/A
 D - D - D
1917
 59.7
 N/A
 N/A
   3.86%
 1.82%
 17.4%
 67%
 6%
 N/A
 D - D - D
1918
 75.8
 N/A
 N/A
 B - Aug
 17.22%
 11.88%
 18.0%
 77%
 12%
 N/A
 D - D - D
1919
 78.3
 N/A
 N/A
 E - Mar
 24.13%
 16.86%
 14.6%
 73%
 10%
 N/A
 D - R - R
1920
 88.4
 N/A
 N/A
 B - Jan
 7.67%
 -0.68%
 15.6%
 73%
 10%
 N/A
 D - R - R
1921
 73.6
 N/A
 N/A
 E - Jul
 7.49%
 -0.91%
 -10.5%
 73%
 10%
 N/A
 R - R - R
1922
 73.4
 N/A
 N/A
   5.12%
 -0.68%
 -6.1%
 56%
 12.5%
 N/A
 R - R - R
1923
 85.4
 N/A
 N/A
 B - May
 4.35%
 -0.66%
 1.8%
 56%
 12.5%
 N/A
 R - R - R
1924
 86.9
 N/A
 N/A
 E - Jun
 4.22%
 -0.73%
 0.0%
 46%
 12.5%
 N/A
 R - R - R
1925
 90.6
 N/A
 N/A
   4.00%
 -0.47%
 2.3%
 25%
 13%
 N/A
 R - R - R
1926
 96.9
 N/A
 N/A
 B - Oct
 3.69%
 -0.67%
 1.1%
 25%
 13.5%
 N/A
 R - R - R
1927
 95.5
 N/A
 N/A
 E - Nov
 3.70%
 -0.98%
 -1.7%
 25%
 13..5%
 N/A
 R - R - R
1928
 97.4
 N/A
 N/A
   3.77%
 -0.68%
 -1.7%
 25%
 12%
 N/A
 R - R - R
1929
 103.6
 976.1
 N/A
 B - Aug
 3.68%
 -0.46%
 0.0%
 24%
 11%
 N/A
 R - R - R
1930
 91.2
 892.0
 -11.9%
   4.34%
 -0.96%
 -2.3%
 25%
 12%
 N/A
 R - R - R
1931
 76.5
 834.2
 -16.0%
   5.37%
 0.17%
 -9.0%
 25%
 12%
 N/A
 R - R - D
1932
 58.7
 725.2
 -23.1%
   7.27%
 2.78%
 -9.9%
 63%
 13.75%
 N/A
 R - R - D
1933
 56.4
 715.8
 -4.0%
 E - Dec
 9.05%
 3.27%
 -5.1%
 63%
 13.75%
 N/A
 D - D - D
1934
 66.0
 793.7
 16.9%
   9.00%
 3.11%
 3.1%
 63%
 13.75%
 N/A
 D - D - D
1935
 73.3
 864.2
 11.1%
   10.30%
 4.12%
 2.2%
 63%
 13.75%
 N/A
 D - D - D
1936
 83.8
 977.0
 14.3%
   10.94%
 4.76%
 1.5%
 79%
 15%
 N/A
 D - D - D
1937
 91.9
 1027.1
 9.6%
 B - May
 9.58%
 2.84%
 3.6%
 79%
 15%
 N/A
 D - D - D
1938
 86.1
 991.8
 -6.1%
 E - Jun
 9.81%
 1.42%
 -2.1%
 79%
 19%
 N/A
 D - D - D
1939
 92.2
 1071.9
 7.0%
   10.04%
 2.32%
 -1.4%
 79%
 19%
 N/A
 D - D - D
1940
 101.4
 1165.9
 10.1%
   9.92%
 3.02%
 0.7%
 81.1%
 24%
 N/A
 D - D - D
1941
 126.7
 1365.0
 25.7%
   11.18%
 3.73%
 5.0%
 81%
 31%
 N/A
 D - D - D
1942
 161.9
 1616.8
 28.3%
   21.96%
 12.04%
 10.9%
 88%
 40%
 N/A
 D - D - D
1943
 198.6
 1881.5
 22.4%
   41.78%
 28.05%
 6.1%
 88%
 40%
 N/A
 D - D - D
1944
 219.8
 2033.5
 10.5%
   45.73%
 22.35%
 1.7%
 94%
 40%
 N/A
 D - D - D
1945
 223.0
 2010.7
 1.6%
 B - Feb E - Oct
 47.93%
 24.07%
 2.3%
 94%
 40%
 N/A
 D - D - D
1946
 222.2
 1790.7
 -0.2%
   29.94%
 9.06%
 8.3%
 86.45%
 38%
 N/A
 D - D - D
1947
 244.1
 1774.6
 9.7%
   16.96%
 -1.32%
 14.4%
 86.45%
 38%
 3.9%
 D - R - R
1948
 269.1
 1852.7
 9.9%
 B - Nov
 13.23%
 -4.33%
 8.1%
 82.13%
 38%
 3.8%
 D - R - R
1949
 267.2
 1843.1
 -0.7%
 E - Oct
 15.04%
 -1.48%
 -1.2%
 82.13%
 38%
 5.9%
 D - D - D
1950
 293.7
 2004.2
 10.0%
   15.25%
 0.43%
 1.3%
 91%
 42%
 5.3%
 D - D - D
1951
 339.3
 2159.3
 15.7%
   14.42%
 -2.30%
 7.9%
 91%
 51%
 3.3%
 D - D - D
1952
 358.3
 2242.0
 5.9%
   19.97%
 -0.06%
 1.9%
 92%
 52%
 3.0%
 D - D - D
1953
 379.3
 2345.2
 6.0%
 B - Jul
 21.09%
 1.52%
 0.8%
 92%
 52%
 2.9%
 R - R - D
1954
 380.4
 2330.4
 0.4%
 E - May
 20.42%
 0.49%
 0.7%
 91%
 52%
 5.5%
 R - R - D
1955
 414.7
 2498.2
 9.0%
   17.71%
 0.37%
 -0.4%
 91%
 52%
 4.4%
 R - D - D
1956
 437.4
 2547.6
 5.6%
   17.37%
 -1.21%
 1.5%
 91%
 52%
 4.1%
 R - D - D
1957
 461.1
 2598.8
 5.5%
 B - Aug
 17.74%
 -1.15%
 3.3%
 91%
 52%
 4.3%
 R - D - D
1958
 467.2
 2575.4
 1.5%
 E - Apr
 18.42%
 0.01%
 2.8%
 91%
 52%
 6.8%
 R - D - D
1959
 506.6
 2760.1
 8.4%
   18.46%
 1.59%
 0.7%
 91%
 52%
 5.5%
 R - D - D
1960
 526.4
 2828.5
 4.0%
 B - Apr
 18.48%
 -0.48%
 1.7%
 91%
 52%
 5.5%
 R - D - D
1961
 544.8
 2894.4
 3.7%
 E - Feb
 19.25%
 0.65%
 1.0%
 91%
 52%
 6.7%
 D - D - D
1962
 585.7
 3069.8
 7.4%
   18.24%
 1.22%
 1.0%
 91%
 52%
 5.5%
 D - D - D
1963
 617.8
 3204.0
 5.5%
   18.02%
 0.77%
 1.3%
 91%
 52%
 5.7%
 D - D - D
1964
 663.6
 3389.4
 7.4%
   17.86%
 0.89%
 1.3%
 77%
 50%
 5.2%
 D - D - D
1965
 719.1
 3607.0
 8.4%
   16.44%
 0.20%
 1.6%
 70%
 48%
 4.5%
 D - D - D
1966
 787.7
 3842.1
 9.6%
   17.08%
 0.47%
 2.9%
 70%
 48%
 3.8%
 D - D - D
1967
 832.4
 3939.2
 5.7%
   18.92%
 1.04%
 3.1%
 70%
 48%
 3.8%
 D - D - D
1968
 909.8
 4129.9
 9.4%
   19.58%
 2.77%
 4.2%
 75.25%
 52.8%
 3.6%
 D - D - D
1969
 984.4
 4258.2
 8.2%
 B - Dec
 18.66%
 -0.33%
 5.5%
 77%
 52.8%
 3.5%
 R - D - D
1970
 1038.3
 4266.3
 5.5%
 E - Nov
 18.84%
 0.27%
 5.7%
 71.75%
 49.2%
 4.9%
 R - D - D
1971
 1126.8
 4409.5
 8.5%
   18.65%
 2.04%
 4.4%
 70%
 48%
 5.9%
 R - D - D
1972
 1237.9
 4643.8
 9.8%
   18.63%
 1.89%
 3.2%
 70%
 48%
 5.6%
 R - D - D
1973
 1382.3
 4912.8
 11.4%
 B - Nov
 17.78%
 1.08%
 6.2%
 70%
 48%
 4.9%
 R - D - D
1974
 1499.5
 4885.7
 8.4%
   17.96%
 0.41%
 11.0%
 70%
 48%
 5.6%
 R - D - D
1975
 1637.7
 4875.4
 9.0%
 E - Mar
 20.29%
 3.25%
 9.1%
 70%
 48%
 8.5%
 R - D - D
1976
 1824.6
 5136.9
 11.2%
   20.38%
 4.04%
 5.8%
 70%
 48%
 7.7%
 R - D - D
1977
 2030.1
 5373.1
 11.1%
   20.16%
 2.64%
 6.5%
 70%
 48%
 7.1%
 D - D - D
1978
 2293.8
 5672.8
 13.0%
   20.00%
 2.58%
 7.6%
 70%
 48%
 6.1%
 D - D - D
1979
 2562.2
 5850.1
 11.7%
   19.67%
 1.59%
 11.3%
 70%
 46%
 5.8%
 D - D - D
1980
 2788.1
 5834.0
 8.8%
 B - Jan E - Jul
 21.20%
 2.65%
 13.5%
 70%
 46%
 7.1%
 D - D - D
1981
 3126.8
 5982.1
 12.2%
 B - Jul
 21.69%
 2.53%
 10.3%
 69.13%
 46%
 7.6%
 R - R - D
1982
 3253.2
 5865.9
 4.2%
 E - Nov
 22.92%
 3.93%
 6.2%
 50%
 46%
 9.7%
 R - R - D
1983
 3534.6
 6130.9
 8.8%
   22.87%
 5.88%
 3.2%
 50%
 46%
 9.6%
 R - R - D
1984
 3930.9
 6571.5
 11.1%
   21.67%
 4.72%
 4.3%
 50%
 46%
 7.5%
 R - R - D
1985
 4217.5
 6843.4
 7.6%
   22.44%
 5.04%
 3.6%
 50%
 46%
 7.2%
 R - R - D
1986
 4460.1
 7080.5
 5.6%
   22.21%
 4.96%
 1.9%
 50%
 46%
 7.0%
 R - R - D
1987
 4736.4
 7307.0
 6.1%
   21.20%
 3.16%
 3.6%
 38.5%
 40%
 6.2%
 R - D - D
1988
 5100.4
 7607.4
 7.9%
   20.87%
 3.04%
 4.1%
 28%
 34%
 5.5%
 R - D - D
1989
 5482.1
 7879.2
 7.7%
   20.86%
 2.79%
 4.8%
 28%
 34%
 5.3%
 R - D - D
1990
 5800.5
 8027.1
 5.7%
 B - Jul
 21.60%
 3.81%
 5.4%
 28%
 34%
 5.6%
 R - D - D
1991
 5992.1
 8008.3
 3.3%
 E - Mar
 22.10%
 4.49%
 4.2%
 31%
 34%
 6.8%
 R - D - D
1992
 6342.3
 8280.0
 5.9%
   21.78%
 4.58%
 3.0%
 31%
 34%
 7.5%
 R - D - D
1993
 6667.4
 8516.2
 5.2%
   21.14%
 3.83%
 3.0%
 39.6%
 35%
 6.9%
 D - D - D
1994
 7085.2
 8863.1
 6.3%
   20.63%
 2.87%
 2.6%
 39.6%
 35%
 6.1%
 D - D - D
1995
 7414.7
 9086.0
 4.9%
   20.44%
 2.21%
 2.8%
 39.6%
 35%
 5.6%
 D - R - R
1996
 7838.5
 9425.8
 5.7%
   19.91%
 1.37%
 3.0%
 39.6%
 35%
 5.4%
 D - R - R
1997
 8332.4
 9845.9
 6.3%
   19.22%
 0.26%
 2.3%
 39.6%
 35%
 4.9%
 D - R - R
1998
 8793.5
 10,274.7
 5.6%
   18.79%
 -0.79%
 1.6%
 39.6%
 35%
 4.5%
 D - R - R
1999
 9353.5
 10,770.7
 6.3%
   18.20%
 -1.34%
 2.2%
 39.6%
 35%
 4.2%
 D - R - R
2000
 9951.5
 11,216.4
 6.5%
   17.98%
 -2.37%
 3.4%
 39.6%
 35%
 4.0%
 D - R - R
2001
 10,286.2
 11,337.5
 3.3%
 B - Mar E - Nov
 18.11%
 -1.24%
 2.8%
 39.1%
 35%
 4.7%
 R - D - R
2002
 10,642.3
 11,543.1
 3.3%
   18.90%
 1.48%
 1.6%
 38.6%
 35%
 5.8%
 R - D - R
2003
 11,142.1
 11,836.4
 4.8%
   19.39%
 3.39%
 2.3%
 35%
 35%
 6.0%
 R - R - R
2004
 11,867.8
 12,246.9
 6.6%
   19.32%
 3.48%
 2.7%
 35%
 35%
 5.5%
 R - R - R
2005
 12,638.4
 12,623.0
 6.7%
   19.56%
 2.52%
 3.4%
 35%
 35%
 5.1%
 R - R - R
2006
 13,398.9
 12,958.5
 5.8%
   19.82%
 1.86%
 3.2%
 35%
 35%
 4.6%
 R - R - R
2007
 14,077.6
 13,206.4
 4.5%
 B - Dec
 19.41%
 1.14%
 2.8%
 35%
 35%
 4.6%
 R - D - D
2008
 14,441.4
 13,161.9
 1.7%
   20.76%
 3.19%
 3.8%
 35%
 35%
 5.8%
 R - D - D
2009
 14,119.0
 12,757.9
 -2.1%
 E - Jul
 24.91%
 10.01%
 -0.4%
 35%
 35%
 9.3%
 D - D - D
2010
 14,505.2
 13,063.0
 3.7%
   23.58%
 8.82%
 1.6%
 35%
 35%
 9.6%
 D - D - D
2011
 15,075.7
 13,299.1
 3.8%
   23.90%
 8.62%
 3.2%
 35%
 35%
 8.9%
 D - D - R
2012
 15,684.8
 13,593.2
 4.6%
   22.55%
 6.93%
 2.1%
 35%
 35%
 8.1%
 D - D - R
The following table is a summary of basic data on the United States economy for each year beginning with 1913.  It
has been designed for maximum flexibility - a compromise between having a large table of raw data that can
appear to be overly intimidating to many while containing lots of useful information for many others.  The specific
information that is included has been selected to benefit for as many people as possible.  Only the "big picture"
information is included in order to minimize the intimidation factor of raw data.  More information could have been
included that would benefit serious students; but that would have cut down on the number of people who would
be interested in looking at this information in the first place.

The year 1913 has been chosen as the beginning date for this data for the following three reasons:
(1) 1913 is the first year of the Federal Reserve System.
(2) 1913 is the year that the 16th amendment to the Constitution was ratified, creating the modern income tax.
(3) Much of the data for categories used in this table had not been compiled prior to 1913.

"N/A" in the table indicates data that is not available.

This information can be used to back up specific arguments for or against specific policies.  This would be a way to use the actual historical
record as a basis for a political position instead of relying on rhetoric or misinformation.

The green shading in the 'Recession' column roughly corresponds to periods of economic growth; the pink shading roughly corresponds to
recessions. For more details on all recessions in U.S. history, see the companion page "List of Recessions in United States History".
A negative sign in the deficit column represents a surplus; a negative sign in the inflation column represents deflation.
This page is from a section of the economicsonlinetutor.com website that is designed
for the opinions and personal writings of the site’s creator (that would be me, Jerry
Wyant); this section is entitled “From Textbook to the Real World”. The main section of
the website can be accessed through the home page and contains a “textbook-style”
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The “Real World” section is an extension of Facebook pages that I have created:

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Feel free to visit these pages on Facebook and like/friend as you see fit.


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Essays from this author relating to
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based in part on the data in the
table on this page, can be found in
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Separating Truth from Truisms" by
Jerry Wyant.

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