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Angelina_Jolie [31]
3 years ago
12

How did the United States government raise money to pay for WW1?

History
1 answer:
user100 [1]3 years ago
8 0

Rockoff estimates the total cost of World War I to the United States at approximately $32 billion, or 52 percent of gross national product at the time. He breaks down the financing of the U.S. war effort as follows: 22 percent in taxes, 58 percent through borrowings from the public, and 20 percent in money creation.


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