"At the time of the staff's most reliable inteligence reports indicated that Germany had only relatively small quantities of tanks and heavy artillery. A feeling of optimism, which led Chief of Staff George C. Marshall to think that the war would probably be over by Christmas, permeated the Allied High Command. As a result, it allocated more shipping to the Pacific and slashed tanks, heavy artillery and ammunition to production."
More on the over-confidence of the Allies can be read here...
More on the Battle of the Bulge can be read here...
