jan 1, 1947 - National Security Act
Description:
1) Created the Department of Defense with a budget of $13 billion in 1947, rose to $22 billion in 1951, and to $47 billion in 1953. 50% of the federal budget went to the military.2) Spending stimulated aircraft and electronic industries. Close business-government ties of WWII grew stronger.
Added to timeline:
Date:
jan 1, 1947
Now
~ 78 years ago