How did the United States government raise money to pay for WW1?

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Miya Li

History

30 March, 08:28

How did the United States government raise money to pay for WW1?

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Lilyana Barker · Answer 1

Rockoff estimates the total cost of World War I to the United States at approximately $32 billion, or 52 percent of gross national product at the time. He breaks down the financing of the U. S. war effort as follows: 22 percent in taxes, 58 percent through borrowings from the public, and 20 percent in money creation.