To raise the $35.5 billion needed to fight World War I, the U.S. government employed various strategies, including the issuance of Liberty Bonds, which encouraged citizens to lend money to the government with the promise of repayment with interest. Additionally, the government increased taxes, including income taxes and excise taxes on goods, to generate revenue. They also implemented loans from foreign countries and promoted war savings stamps to engage the public in financing the war effort.
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