ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Economy and Vietnam

LETTER FROM AMERICA The Economy and Vietnam IF IT were not for the fact that the United States is a nation of almost unlimited wealth and tremendous economic capacity, the current war in Vietnam would have almost destroyed the economy. As it is, severe strains are showing, and there is not any question that the war will have substantial economic and political implications in the United States. The war is currently costing about $12 billion per year, or more than $1 billion a month. Thus far, the Johnson Administration has not substantially raised taxes and the Government has had to go in for deficit spending to a substantial degree. Now, a tax increase seems in the offing, and the Johnson Administration is planning to curtail most domestic spending programmes in order to adequately finance the Vietnam war.

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