1980-1985 Economy By isaactrybus 1980 S&L combined worth reaches -$18 billion 1980 President Carter gives Federal Loan to Chrysler of $1.2 billion 1980 Inflation rate reaches 13.9% 1980 CCI reaches 98.5% 1980 Consumer Price Index reaches 82.4% 1980 GDP reaches $2.863 trillion 1980 GDP per capita was 12,597.67 1980 Unemployment rate was 6.3% 1980 Interest rate was about 20% 1980 The united states fell into a trough 1980 The Fed discount rate was 12% 1980 8% marginal reserve requirement 1980 Government effective tax rate was 9.9% 1980 Reserve ratio was 20% 1980 Government spending is equal to 22% of the nation's GDP 1981 Unemployment was at 7.5% 1981 Interest Rate was 20.2% 1981 Inflation reaches 11.83% 1981 Mortgage rate reaches 21% 1981 Tax Reform Act of 1981 1981 The First IBM-PC is released 1981 Inflation rate was 11.83% 1981 CCI hit 99.02 1981 Consumer Price Index reaches 90.9 1981 GDP was $3.211 trillion 1981 GDP per capita was $13,993.17 1981 Economy entered a state of expansion 1981 Reagan introduces the deficits and taxes fiscal policy to cut taxes. 1981 Fed discount rate was 13% 1981 Reserve ratio was 18% 1981 Government spending is equal to about 20% of the nation's GDP 1981 Economic Recovery Tax Act slashes tax rates down to 50% in the 1980's Jan 20, 1981 Reagan elected president Apr 12, 1981 Space Shuttle Columbia is launched 1982 Government spending is equal to about 21% of the nation's GDP 1982 Recession of 1982 1982 Inflation Rate reaches 8.39% 1982 AT&T monopoly ordered to break up 1982 CCI was 98.79 1982 Consumer price index was 96.5 1982 GDP was $3.345 trillion 1982 GDP per capita was $14,438.98 1982 Unemployment was at 8.6% 1982 Interest rate hit about 15% 1982 United States enters a period of retraction 1982 Fed discount rate back down to 12% 1982 Reserve Ratio back up to 20% 1983 48 FDIC-insured banks fail with $7 billion in assets. 1983 Reagan-Volcker inflation policy put into action 1983 Inflation hits 3.71% 1983 CCI reaches 100.48 1983 Consumer Price Index was 99.6 1983 GDP hits $3.638 trillion 1983 GDP per capita reaches $15,561.43 1983 unemployment rates hit 10.4 % 1983 Interest Rates were 8.6% 1983 The economy enters a period of expansion 1983 Fed discount rate drops to 8.5% 1983 Reserve Ratio was 15% 1983 Government spending is equal to about 23% of the nation's GDP Mar 23, 1983 Reagan releases defense plan called Star Wars Oct 13, 1983 The first commercial cell phone is made Dec 2, 1983 Michael Jackson releases "Thriller" 1984 Banking regulatory agencies set minimum capital requirement standards for individual institutions 1984 Inflation rate was 4.19% 1984 CCI was 101.02 1984 Consumer Price Index reached 103.9 1984 GDP was $4.041 trillion 1984 GDP per capita was $17,134.29 1984 Unemployment rate was 8% 1984 Interest rate was 9.5% 1984 The economy enters a state of retraction 1984 Fed discount rate stays at 8.5% 1984 Government spending is equal to about 23% of the nation's GDP 1984 Reserve Ratio was 10% Jan 24, 1984 Steve Jobs releases the first Macintosh computer 1985 Inflation rate reaches 3.55% 1985 Mortgage Rate reaches about 11.5% (15 year) 1985 Inflation rate was 3.53% 1985 CCI was 100.60 1985 Consumer Price Index was 107.6 1985 GDP was $4.347 trillion 1985 GDP per capita was $18,269.42 1985 Unemployment drops to 7.3% 1985 Interest rate hits 7.3% 1985 Economy falls into a trough 1985 Fed discount rate down to 8% 1985 Reserve Ratio was around 7.5% 1985 Government spending is equal to about 25% of the nation's GDP Nov 20, 1985 Microsoft introduces Windows