Why did the finances and competitive strength of US weaken in the 1960s?
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As president, he sought to accelerate economic growth by increasing government spending and cutting taxes, and he pressed for medical help for the elderly, aid for inner cities, and increased funds for education
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The following points explain the question:
• From the 1960s, the rising cost of US's overseas involvements weakened its finances and competetive strength.
• This led to the collapse of the system of fixed exchange rates and the introduction of a system of floating exchange rates.
•Also, alongside these, some changes in financial system were seen which led to lower income and periodic debt crisis.
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