The economy overall grew by 37% during the 1950s. At the end of the decade, the median American family had 30% more purchasing power than at the beginning. Inflation, which had wreaked havoc on the economy immediately after World War II, was minimal, in part because of Eisenhower's persistent efforts to balance the federal budget. Except for a mild recession in 1954 and a more serious one in 1958, unemployment remained low, bottoming at less than 4.5% in the middle of the decade.
The main economic goal that Eisenhower pursued through both his terms in office was to achieve a balanced federal budget. The government ran a small deficit in 1954 and 1955, then registered a surplus for each of the next two years. As the nation went into a recession in 1958 and 1959, Eisenhower allowed the federal deficit to grow in order to stimulate the economy. By 1960, he managed to return to a surplus.
What I see is a very prosperous time for the US because someone focus on being responsible with the government’s money. Really? Is that the secret? You mean only paying for what you can afford is good for a government just like for an individual? Even with the typical bad things like recessions/war and good things like cheap oil/GI Bill benefits that happen every decade, their was strong, healthy growth in the 1950’s.
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