somebozo
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The debt came because during the cold war americans decided to drop the gold standard and keep printing their currency bills to keep their friends and allies better funded at the expense of their own future. It was understood that country policies called for best benefit in trade and there was no other way to disengage europe and middle east from economic interaction with soviet union unless a more profitable market for provided. To boost the American consumer power for benefit of exporting nations the decision was to liberalize credit visa easy to acquire credit cards and free flowing loans. Now managing out of control spending has become a headache for Americans.