Yesterday, we looked at the costs of various one time events versus the bailouts. It took one year of bailouts to rack up the debt totals of 206 years of war, westward expansion, space exploration, etc.
The chart we created omitted numerous conflicts (WWs, the Civil War, etc.) and I was curious as to actual costs of them, adjusted for Inflation.
Reader Ernst Mayer turned me on to this analysis by Stephen Daggett, a specialist in Defense Policy and Budgets. Daggett’s table (shown below) gives you our war spending details, but — spoiler alert – no other military engagement remotely compares to the financial costs of WWII. Total inflation adjusted spending: over 4.1 trillion dollars. That was about 36% of GDP.
Years of War Spending
Peak Year of War Spending
Total Military Cost of War in Millions/Billions of Dollars