ANSWERS: 12
  • I don't necessarily think "bankrupt", but I do worry that we are digging ourselves in to a hole so deep, in terms of our position and credibility in the global economy, that it will take decades to dig ourselves out. In order for us to go 'bankrupt', our creditors would have to have agreed to that possibility at the outset. I don't think our international credit debts will be forgiven.
  • Maybe not bankrupt, but probably build up a huge debt. Our country owes over one trillion dollers in national debt. That is why our country's currency is dropping in how much it is worth. We would probably be in debt, but I doubt the bankruptcy.
  • Any country can be bankrupt if other countries won't accept its currency in payment for imports, and won't extend further credit. This is usually preceded by hyperinflation, however.
  • No. Because the US is in the fortunate of possessing the default international currency, it can always print more dollars to pay its debts. Of course, this will produce massive inflation, make imports very expensive, and make it difficult to borrow money in the future. The ill-effects would be much the same as going bankrupt (perhaps a little less bad), but technically the US would not go bankrupt.
  • Possible? Yes. Likely? No.
  • Anything is possible now days.
  • Techinally aren't we bankrupt right now?
  • No, we'll just invade someone and steal their resources to keep things going. (I know that sounds crazy but I've heard some criminal regimes do it)
  • I think most realisticly is that people will stop loaning money to America because we are too deep in debt to be likely to pay it back. When that happens it means Congress will have less money to spend and will have to make budget cuts. This sort of thing already happened to California and it was a major process of deciding where to make cuts to balance the budget. Afterwards America will simply be a lesser country.
  • In a sense...we are already there....of course they can print more money...and may need to if Hillery really wants to hand out a cool $5000 to EVERY SINGLE NEWBORN..born in the USA...legal or not...That's going to add up pretty fast I think... and so what if we are not "new born!!!!" Where is our freaking $5000???? Most of us PAY TAXES DAMN IT!
  • we are bankrupted,our country keeps borrowing money from other countrys and goods and services.I think it is kind of funny how our goverment borrows electricty from mexico and then put's up a gate more restrictions every where like there are not loop holes.Where there is a will there is a way.They are always going to war the usa goverment and wanting the people of usa tax payers to pay for something they dont even approve of most of what our goverment does and spends the money unwisely.

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