Title: Economic Consequences of War on U.S. Economy: Debt, Taxes and Inflation Increase; Consumption and Investment Decrease | HuffPost
Headings: Economic Consequences of War on U.S. Economy: Debt, Taxes and Inflation Increase; Consumption and Investment Decrease
Economic Consequences of War on U.S. Economy: Debt, Taxes and Inflation Increase; Consumption and Investment Decrease
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Content: Our “Economic Consequences of War on the US Economy” report studies five periods — World War II, the Korean War, the Vietnam War, the Cold War, and the Afghanistan/Iraq wars — highlighting the effect on seven macro-economic factors: debt, consumption, investment, jobs, taxes, government deficits, and inflation. Download
It shows that U.S. has paid for its wars either through debt [World War II, Cold War, Afghanistan/Iraq], taxation [Korean War] or inflation [Vietnam]. The report shows the following economic indicators experiencing negative effects either during or after the conflicts: Public debt and levels of taxation increased during most conflicts. Consumption as a percentage of GDP decreased during most conflicts. Investment as a percentage of GDP decreased during most conflicts. Inflation increased during or as a direct consequence of these conflicts. Other findings? Excessive military spending can displace more productive non-military outlays in other areas such as investments in high-tech industries, education, or infrastructure.