Although it lasted less than four years, the Second World War was the most costly war in the history of the United States. Adjusted for inflation to today's dollars, the war cost more than $4 trillion, and in 1945, last year's war, defense spending accounted for about 40 per cent of GDP.
At this time , the government used innovative methods to collect the funds needed and managed to achieve its target. Although the wars fought in today's world are important and costly, they are still small when compared to World War II's scale and financial effect.
Also Read: How COVID-19 Has Impacted Black-White Financial Inequality.
infographic by: online.norwich.edu