This document presents a demographic analysis of data on education in the United States from 1940 through 1983. In summary the findings are as follows: (1) there has been a very large increase in educational attainment since 1940 and Americans are substantially more educated than people in other developed nations. (2) Benefits to society were found in reduced inequalities in attainment and contributions to economic growth. (3) The lack of decline in individual income inequality does not necessarily imply that increases in education do not have significant effects on the earnings of individuals attaining that education. (4) Surveys of the achievement score trends showed that there seems to have been a sizeable decline since the mid-1960s as well as large and persisting differentials by various socioeconomic groups. (5) The quality of schooling seems to have declined in the 1970s, and the current "back to basics" movement does not seem very promising. (6) The survey of resource use and education costs discovered a very sharp rise in cost per student in both elementary and secondary schools starting in the early 1960s. (7) The analysis of college education and the economy found that the pecuniary return on college education has declined beginning in the late 1960s; however, recent movements in data on income and occupation, cross-classified by educational attainment, suggest that the positive impact of college education may be on the rise. The report includes extensive statistical tables and figures summarizing the data. (CG)