The End of Empire?
This chapter discusses the weakening of the leasehold empire of the U.S. during the mid-1980s. Analysts consider the gradual erosion of the exceptional position occupied by the U.S. since 1945 as inevitable, but it was compounded the actions taken by the administration of President Ronald Reagan to face down the Soviet threat. During this period, the U.S. defence budget was increased by $1 trillion and it has accumulated foreign debt of $3 million. In addition to this, the annual trade deficit increased from $30 to $130 billion and the federal budget deficit rose from $60 to $200 billion.
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