If you are 74, you seem to have forgotten the Bush 1 years.
You also seem to have forgotten at what point salaries and benefits for the middle class began to decline. The 50's and 60's were prosperous, unions where strong, and good paying manufacturing jobs were plentiful. Most jobs had pension plans and covered medical insurance 100%. Thank God, because those in our age group are managing to survive thanks to Democratic programs like social security and medicare.
Then came Reagan. He focused on breaking the powers of unions, and had economic policies that caused an increase of taxes for the middle class while shredding the social safety net. It is not surprising that the average middle-class income continues to hover around the level it was when Reagan was in office. Not to mention that he increased the national debt exponentially.
Since then school loans became privatized, the mortgage lending business was deregulated, the oil industry has been subsidized, funding for education has been cut and federal funding for programs like head start, pell grants and job training have gone away. Americans can not compete with the rest of the world in education. We are now 11th in the world in college graduates. All thanks to Republicans. Americans are dumber, poorer and have less opportunity than they had 40 years ago. They fall victim to predatory lending and now the greatest cause of bankruptcy is our profit based medical system. It is a tradgedy for our children and grand children.
This is a Republican economy. The result of Reagan's flawed notion of "trickle down". He believed, as most Republicans do, that if you let the rich get richer so will everyone else.
Didn't work did it?
I have a hard time believing you are 74 my friend. If you are, your memory is failing. You might want to see a doctor about that.
Obama pulled our butt out of the economic fire. He will go down in history as a great president.
I hope I live another 20 or so years to see it. But I'm old too. I am really sad to see how this country had deteriorated.