USA Bankrupt

[LeedsRhinos]

What would be the effects if the USA were to go bankrupt

[MsEVP]

It`ll never happen, you`ll see.

[Gromit]

The US Government may (and has) run out of money, but they can always borrow more. They have a huge economy, and their credit worthyness is very good.

They will not go bankrupt.

[MsEVP]

But, if they did, then the whole world would go into the barter/swap mode!

[jno]

The US national debt as of one minute ago was $9,791,068,347,331.33. Updates here: http://www.brillig.com/debt_clock/

But you don't go bankrupt unless you think you'll never be able to pay. America is confident that it will continue to make enough to pay it off, and its creditors obviously think the same, as they go on lending.

[keyplus90]

USA would be fine for few more years. All the money they owe according to jno's link is nothing. Even if they would not be able to pay these debts..........................they will simply attack and occupy the country. No debts any more.

[ummmm]

Very good point keyplus90.

[jno]

the USA owes money to more people than it could possibly invade - it appears to be at full stretch already.

[legend.isgod]

Financial collapse , mass unemployment , millions jobless and starving.
Google " The great depression " or for a modern day example look at Zimbabwe.A country in which the price of goods rises every minute.A loaf on the shelf priced at for example 5 pounds will be 7 or 8 by the time you take it off the shelf and pay for it ( BTW i know Zimbabwe doesn't have pounds its as an example )and by the end of a working day a loaf can be 10 times more expensive than at the start of the day.

The repercussions would be felt globally and take years to recover from , war may be an end result to.If you lack something and cant buy it then use brute force and take it .


DID THAT HELP ?�'

[Gromit]

The Clinton Administration managed to reduce the US National Debt by $360billion.

The Bush Administration has managed to increase it by half a trillion dollars, every year since 2003.

[keyplus90]

Many may not agree with me but I think its nature as well as Gods wrath. If we look at the history of few African countries they were once very prosperous. But at that time they never cared about the blessings of God and wasted freely whatever was there to be wasted. Today in few of those countries people are scratching ground so they might find a grain of rice or something else there for food.

USA, we all know that how much food is wasted there every single day and that might be enough for months for few. One side of the world people are dying of hunger and the other side people are obese because they have too much food. What do you expect then���..Its the beginning of the end, may take sometime but I have no doubt about it.

[spudqueen]

Interestingly New York City was almost bankrupt in the mid 1970s. It led to the closure or severely reduced service of many of the cities services, including libraries.
http://query.nytimes.com/gst/fullpage.html?res =940DE7DE153BF936A35751C1A9649C8B63