Using this surplus, and the Treasury's excess cash reserves, the debt was reduced substantially, reaching a low point of 251 billion dollars in June, 1949, and ending up at 257 billion dollars on June 30, 1950. In July of 1950, we began our rapid rearmament, and for two years held very close to a pay-as-we-go policy.
"Complete State of the Union Addresses from 1790 to the Present"
Various
rearmament itself might not be so bad, Leoh mused, if you can keep the Kerak Worlds from using their weapons.
"The Dueling Machine"
Benjamin William Bova Myron R. Lewis