This text discusses how public debt in any country reflects budget deficits influenced by public expenditure and revenue. It examines the components of US government spending, noting that defense expenditures have historically made up a significant portion of overall US government spending, accounting for 90% of total expenditure in However, as World War II came to an end, the percentage of defense spending as a share of total government expenditure significantly decreased, reaching around 30% in 1948.
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