Quick Answer: How much money did the US spend in Vietnam?

How much money did the US spend in the Vietnam War?

In the United States, the effects of the Vietnam War would linger long after the last troops returned home. The nation spent more than $120 billion on the conflict in Vietnam from 1965-73; this massive spending led to widespread inflation, exacerbated by a worldwide oil crisis in 1973 and skyrocketing fuel prices.

How much did ww2 cost the US?

Adjusted for inflation to today’s dollars, the war cost over $4 trillion. The table above outline the approximate expenditures of various world nations during World War II. The U.S.A. spent the most on the war, just over 340 billion dollars.

How did the Vietnam War damage the US economy?

The Vietnam War severely damaged the U.S. economy. Unwilling to raise taxes to pay for the war, President Johnson unleashed a cycle of inflation. The war also weakened U.S. military morale and undermined, for a time, the U.S. commitment to internationalism.

How did the US profit from ww2?

America’s response to World War II was the most extraordinary mobilization of an idle economy in the history of the world. During the war 17 million new civilian jobs were created, industrial productivity increased by 96 percent, and corporate profits after taxes doubled.

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How much did World war 1 cost the US?

The total cost of World War I to the United States (was) approximately $32 billion, or 52 percent of gross national product at the time.

What was the impact of Vietnam War on America?

The Vietnam War had a profound effect on America. Domestically, the unpopularity of the war led to the end of the military draft in 1973, and since then, the U.S. has yet to conscript troops from the general population again. The war also drastically decreased Americans’ trust in political leaders.

How does war affect US economy?

Public debt and levels of taxation increased during most conflicts; • Consumption as a percent of GDP decreased during most conflicts; • Investment as a percent of GDP decreased during most conflicts; • Inflation increased during or as a direct consequence of these conflicts.

What were the impacts of the Vietnam War?

The most immediate effect of the Vietnam War was the staggering death toll. The war killed an estimated 2 million Vietnamese civilians, 1.1 million North Vietnamese troops and 200,000 South Vietnamese troops. During the air war, America dropped 8 million tons of bombs between 1965 and 1973.