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War costs and Great Society spending in 1966 balance deficit
The United States faces a modest war impact on the economy as the 1966 budget cuts and the 1967 war costs are offset by rising Great Society outlays. Defense spending soars while the GNP grows, keeping the deficit and unemployment relatively contained amid a large military buildup.
MENTIONED IN THIS ARTICLE
New York Times
Space Agency
Advanced Orbiting Solar Observatory
Congress
United States
China