During WWII, the United States spent $288 billion in 1940 dollars, equivalent to $6.5 trillion in 2024 dollars. By the end of WWII, much of that money was just gone. It had been spent on bombs, on airplanes that had been shot down, on soldiers’ salaries, and on aid to our Allies. However, some of the money had been spent on things that were still around; things like military bases, buildings, trucks, food supplies, and reportedly, hundreds of thousands of body bags that weren’t needed because of the abrupt end of the war in the Pacific. Some equipment, such as navy ships, could be mothballed.
Between 1945 and 1947 the U.S. military shrank by 87 percent, from 11.9 million servicemen to 1.6 million. Nevertheless, the end of the war triggered…