Since this a Space-topic webpage, I'll
keep politics to a minimum.

But!...When Sputnik 1 was launched into orbit,
America responded [and was already responding] with the
accelerated development of the Atlas, Thor and Titan 1 long-range
missiles.

All three long-range missiles preserved the peace during the Cold War;
provided 10,000's of US engineers, techs and blue-collar workers with jobs in aerospace industry; and all 3 missiles also served as booster rockets for a variety of well-known historic satellites, space probes and manned spacecraft.
Not bad for a President [Ike] who is and was dismissed as mediocre.

But...one wonders how Obama will respond to this latest development.