That's the standard story: the USSR went broke because they couldn't keep up with the arms race with the US (and we sort of went broke in the 80s to finance that massive military, but that's another story).
Sam Smith at the Progressive Review helps to debunk that myth. Freedom-loving people in the Soviet Empire broke open the USSR -- and the patriots and champions in the Soviet Union who destroyed the empire deserve far more of the credit than the financially-irresponsible policy makers in DC during the 80s.
Here's the link.
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