[4] After leaving Poland, his grandfather settled in Texas after the American Civil War and married Dillon's Swedish-American grandmother.

After his World War II service on Guam, on Saipan, and in the Philippines, he left the United States Navy as Lieutenant Commander decorated with the Legion of Merit and Air Medal.

According to Richard Dean Burns and Joseph M. Siracusa, Dillon's leadership of the economic policy team, exerted significant conservative influence on the overall direction of the administration.

He effectively convinced the president that the nation's main economic challenge was the balance of payments deficit, leading to the adoption of a moderate approach and the dismissal of more radical liberal solutions to domestic issues.

President Kennedy's choice of Dillon as Secretary of the Treasury reflected a deep concern about the balance of payments deficit and the resulting "gold drain."

The emphasis placed by Kennedy and Dillon on addressing the balance of payments issue had a substantial impact on the administration's overall economic policy, steering it toward conservatism.

This "gold drain" raised concerns within the financial community and remained a prominent issue during both the Kennedy and Johnson administrations.

During the initial years of Kennedy's presidency, Dillon's success in prioritizing the payments deficit prevented more aggressive fiscal and monetary interventions in the economy or increased spending on social programs.

He also played a role in crafting the Revenue Act of 1962, which established a 7 percent investment credit to spur industrial growth.

Additionally, he advocated for the closure of loopholes utilized by foreign "tax haven" corporations and businessmen who deducted entertainment expenses.

Although Congress rejected most of the administration's reform program during the summer of 1962, Dillon nevertheless endorsed the final package because it included a 7 percent investment tax credit.

He was made the leader of the American delegation dispatched to Punta del Este, Uruguay, in August 1961 to commence the Alliance for Progress.

Dillon committed the U.S. to provide $20 billion in low-interest loans over the next decade to enhance the living conditions in Latin America.

Additionally, Dillon served on the National Security Council and actively participated in the intense discussions surrounding the Cuban Missile Crisis in October 1962.

[18] In the Brendan DuBois novel Resurrection Day (1999), the Cuban Missile Crisis erupts into a full-scale nuclear war and Washington, D.C., is destroyed.