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Defense Spending Increases at Fastest Rate in 50 Years

HeadlineAug 01, 2003

Defense spending in the United States increased at the fastest rate in the past 50 years during the three-month period following the start of the Iraq invasion. The Wall Street Journal reports this increase — the largest since the Korean War — was the main reason the nation’s gross domestic product jumped a robust 2.4 percent last quarter. The Pentagon is spending about $4 billion per month on the Iraq occupation not including the costs of reconstructing the country.

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