I don't know this as well as I'd like - I put my academic career as a historian focused on the US in the 1960s on hold just as I was starting to investigate the economics of the era - but what I do know is that spending on the Vietnam War helped produce significant inflation across the US by 1967-68.

Lyndon Johnson refused to seek a tax increase to pay for the war, hoping to keep the war's impact from being felt by most Americans, and this apparently led to the inflation as well as screwing with the balance of payments system set up with Europe at the end of the war.

There's likely more to the story, but that's a piece. While we have a good understanding of economic policy history from 1980 to the present, it seems that the era from 1960 to 1980 is less well understood.

And the world will live as one