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The Impact of World War II on the American Economy Government Took Increasing Control of the Economy • Continued a process started during the New Deal • U.S. gov. needed money – Liberty bonds – Income tax • Withholdings system • Needed military production – Gov. organization (NWLB) set up to prevent strikes • Union leaders took a ‘no strike’ pledge after Pearl Harbor – Industries controlled to shift production from civilian to military products • Rationing of essential products – Oil, meat, sugar, gas, etc. – Americans hold ‘rubble drives’ and raise ‘Victory Gardens’ Impact on the American Economy? • Explosion of GDP – Gross Domestic Product the $ value of the total yearly production of the country – Ended Great Depression lowered unemployment • Government Debt Increased – Result of borrowing (Liberty Bonds)