Final answer:
The Truman administration's Marshall Plan provided over $12 billion in economic aid to help rebuild European nations post-World War II. This plan, part of the US strategy to counter the spread of communism, also bolstered the US economy, as it required funds to be spent on American goods and services.
Step-by-step explanation:
Following World War II, the Truman administration aimed to aid Europe's recovery from the war's devastation with a significant economic assistance program. The Marshall Plan, officially named the European Recovery Program, was the primary means through which the United States provided over $12 billion in economic aid to European nations. This plan was designed to stabilize and rebuild war-torn economies and was a key component of the US strategy during the early years of the Cold War to counter the spread of communism. The aid was multifaceted, serving to reverse inflation, revive manufacturing, and provide emergency food and supplies. It also had the effect of boosting the US economy by ensuring that a large portion of the funds were spent on American goods and services.
The scale of US economic assistance, both before and after the war, was immense. Prior to the Marshall Plan, the US had already provided billions in aid. This generosity continued as the Marshall Plan facilitated the recovery of participating European countries, creating stable democracies and reliable anti-Communist allies. However, the aid was not accepted by the Soviet Union and its Eastern bloc allies, who saw this as an intrusion by the West and countered with the Molotov Plan. This division contributed to the dichotomy between the capitalist West and communist East, setting the stage for the Cold War era.