In recent years, there has been an accelerating demand for new electronic systems of payment including pressures for various forms of digital currency. China has advanced a central bank digital currency (CBDC) which may well play a key role in their global economic ascendancy and thereby provide a substantive advantage in overtaking the United States as the dominant economic and political superpower. However, digital currencies in general, and a U.S. CBDC present a variety of challenges including development, approval, and implementation. Despite these concerns, this study argues that the U.S. should develop a CBDC on an expedited timeline with the help of an executive order. The study proceeds through three stages. First, the study explains what a CBDC is. Second, it identifies the motivations to develop a CBDC and threats that foreign CBDCs pose to the US dollar. Third, it analyzes current progress towards a United States CBDC. The study concludes with remarks on why the United States must elevate its sense of urgency and push more intensely to develop a competitive and strategic CBDC, and recommendations for a potential executive order. Ultimately, the President of the United States must put forth an additional executive order covering CBDCs and work to develop a CBDC on an expedited timeline to combat the rise of foreign digital currencies and protect the dollar.