I point out In World War II, we started World War II spending about 11.7% of GDP. That increased to 41% of GDP. But I think By 1948, three years after the war, we were back down to 11.4% [of GDP]. So we know it's possible. Back then Congress and President Truman realized that World War II was an extraordinary once in a lifetime thing. You couldn't keep spending at those levels. (09:29–09:37)
CLAIM
Asserts that U.S. spending returned to 11.4% of GDP by 1948, three years post-World War II.
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