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Inflation Adjusts Budget Comparisons Across Wars
The article explains how inflation changes the view of U.S. federal spending from 1945 to 1975. In 1969-dollar terms 1945 outlays hit 2454 billion while 1975 reached 211.3 billion, with defense shrinking as a share and payments to individuals rising. Population growth and wartime needs, especially Vietnam, shaped deficits and surpluses, showing how real purchasing power alters the budget story.
MENTIONED IN THIS ARTICLE
Edmond Lebreton
Associated Press
Washington
Ford
Congress
Office of Management and Budget
National Defense Act
Census Bureau
United States
Southeast Asia
Intauien
Korea
Vietnam
John F. Kennedy
New Frontier
Lyndon B Johnson
Great Society
U.S