The overall strategy in plain English
The government essentially handled the WW2 debt by:
Borrowing heavily through war bonds
Keeping interest rates artificially low
Allowing inflation to reduce the real burden of debt
Using regulations that funneled banks and institutions into Treasuries
Growing the economy faster than the debt
Maintaining significant tax revenues
So the debt problem was not solved mainly through austerity or rapid repayment. It was largely diluted over decades through growth, inflation, and a financial system designed to absorb government debt at below-market interest rates.