American politician: The White House is leading the US to disaster by spending trillions on unnecessary and unconstitutional wars
The US could face an economic crisis if the government does not learn from the Greek debt story.
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Such an opinion in his column published on the website of the Institute for Peace and Prosperity, said American politician, former Republican Congressman Ron Paul, who ran for President of the United States three times.
In his opinion, serious military expenditures are putting pressure on the country's budget. “America will never get its finances in order until we abandon our foreign policy and stop spending trillions on unnecessary and unconstitutional wars,” said Ron Paul.
He also stressed that the US suffers from excessive corporate benefits. Cutting benefits for companies and military spending will allow the government to save money without harming ordinary Americans, he said.
The politician also expressed fears that the dollar would lose its status as the world's reserve currency. “China and Russia are already ready to abandon the dollar in international payments. “It’s only a matter of time before many countries challenge our currency,” he warned, adding that when that happens, a Greek-style disaster could be inevitable.
On July 13, German Chancellor Angela Merkel announced that the Eurogroup (the council of finance ministers of the eurozone countries) managed to agree with Greece on a way out of the debt crisis. Athens will receive 86 billion euros subject to the introduction of an austerity regime in the country.
It provides for tax and pension reform, as well as the privatization of state assets worth 50 billion euros. A week earlier, in a referendum, 61,31 percent of Greeks who voted opposed austerity measures.
On July 10, Russian President Vladimir Putin called the large US foreign debt a serious problem for the entire global economy, including the BRICS and SCO countries.
Currently, the United States national debt exceeds $18,3 trillion. At the same time, the country's GDP is less than 18 trillion. Every second the debt grows by several thousand dollars.
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