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In response to
"
what i can't figure out is how massive deficit spending on one world war was enough to pull us out of the great depression
"
by
moles
1945 defense spending was about $800 billion in today's money, and close to 38% of GDP.
Posted by
mafic
Jun 9 '11, 04:11
38% of GDP last year would have been in the $5.5 trillion range. many other reasons too, but that's a big one.
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