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Those exports were lend/lease and the Marshall plan. They were funded with US Govt. debt. Which is to say, they were funded with domestic stimulus spending.
by jordanb 11y ago
Those exports were lend/lease and the Marshall plan. They were funded with US Govt. debt. Which is to say, they were funded with domestic stimulus spending.
- Retric 11y agoTotal government debt was dropping over that time period.
- deleted 11y ago[deleted]
- jordanb 11y agoIt absolutely was not in dollar terms. As a % of GDP perhaps, simply because the economy was growing so fast. The government ran an aggregate of $120 billion in deficits over those years and only $22.5 billion in surpluses. The Marshal plan was 1948-1953 and the Korean War was 1949-1953.