http://thesavedquarter.com/2010/01/03/scratch-vs-store-bought-master-baking-mix/
As for the stuff in the list, it's not actually all that junky and you do want it in your food, even if you don't need it to be listed out individually! Bleached flour isn't as healthy as whole wheat flour, but the added stuff is all vitamins – stuff you want in your food – which aren't bad for you. The other stuff is just sugar, salt, and baking powder (leavening – same ingredients are on the side of my jar of baking powder.) Calcium carbonate is the same stuff that's in Tums, just adding calcium to add a little more nutrition.
I'm surprised not to find a fat in that list, as Bisquick has the shortening added. I'm not sure how it would work without the sugar, either. Did your pancakes rise well?
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