Time to pay the piper
Obama has reassured Americans that we are still folk Triple-A few hours after the Chinese, our biggest lenders, said that our money is almost worthless because of our massive debt of the government. Beijing said the dollar will soon be replaced by a global reserve currency - you can probably guess what they have in mind.
How the greatest nation on earth are in this dire situation? It started way back with the New Deal of President Franklin Roosevelt, who, while helping to end the Great Depression, also introduced a socialist mentality right in our national psyche.This was followed by World War II, the last war the U.S. had no choice but to fight. It cost us quite naturally and our allies lot of dough to win the fierce conflict in the world, but it was ultimately worth the cost.
Then came the Korean War. Sixty years later, it is still not complete. In the meantime, one of the communist powers we faced there, China has become our main source of loans to keep our government works. If this is not ironic, I do not know what that is.During this decade, President Dwight Eisenhower, a former army general who was obviously not a pacifist politician with little knowledge of the war, warned the nation of a "military-industrial complex" that was not necessarily work in the best interest of the country.
The leading Republican grandfather could not describe the Vietnam War in all the best. The goals were unclear, previous experience French ignored, as once again we rushed out of a distant Asian country is divided to save the world from the communist threat.The engagement and the escalation of that expensive, protracted conflict and division was performed by two Democratic presidents, John Kennedy and Lyndon Johnson, although it was later extended by Republican Richard Nixon. And we were really fighting? Why, our old friends, the Chinese, who now hold much of our national debt, even if the Communist Party still runs the country a huge four decades later.
presidents on us currency - News
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