On this day. 1948: President Truman signed the Marshall Plan — which aimed to rebuild Europe after World War II. The $13 billion Marshall Plan ($120 billion in today's dollars) was named for Secretary of State George Marshall, who said Europe, devastated during the war, needed help getting back on its feet. The Marshall Plan did just that, while it also counterbalanced growing Soviet power on the continent. The Soviet Union, also devastated during the war, was also offered help; Premier Stalin refused to accept it.
On this day. 1974: After investigating President Nixon's finances, the Internal Revenue Service ordered him to pay $432,787 in back taxes and $33,000 interest.
Quote of the day
"The President is always abused. If he isn't, he isn't doing anything." -Harry Truman
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