Bankrupt USA........?

Question

Is it possible that within the next decade or so, this nation will go bankrupt, owing money to China and other nations......unable to pay? What will happen if those we owe money to call in the loans, and our nation is unable to pay?

Answer 1

This is one of those topics that I try not to think about since it is so darn depressing.  Its funny that many Republicans think that tax cuts are the answer to this.

Answer 2

LOL, hardly.  Do the math.  Every penny of tax we pay is multiplied between 100 and 200 million times then multiply that by how many penny taxes there are every day then multiply that by 364 days in the year then on top of all of that all of the income taxes from every working person at least once a year and for some every quarter.  If you do the math, it's impossible for America to go bankrupt.

This doesn't even include all of the natural products America has and sells to other countries.

Answer 3

We ARE bankrupt.

~ $9,000,000,000,000.00 In national debt

~ $70,000,000,000,000.00 In promises

~ +15% per year federal budget increase

~ Yearly defecit spending

We cannot possibly grow fast enough to pay for the promises we have made (debt and govt program promises like medicare and social security).

The real growth is not there, and it is faked by artificial inflation of the money supply, which devalues every dollar we have by ammounts greater, than gained in growth.

The only hope for us is to begin to eliminate unconstitutional government programs, reduce the budget YEARLY, and take away the federal reserves power of being able to magically print money. We also need to privatize as much of government as pallatable, and remove laws that prevent competition in the area of oil and gas (its "small oil" that is being blocked from appearing and offering cheaper gas).

Answer 4

No,

Answer 5

We haven't "loaned" anybody any money, foreign governments have purchased US Treasury Bonds, which we could just print the money for if someone suddenly wanted it!

Answer 6

For several years now, David Walker has been criss-crossing the country on his "Fiscal Wake-Up Tour". Walker, who is the director of the Government Accountability Office (GAO) has been trying to warn people that the nation is literally going bankrupt. But no one listens. Politicians are too cowardly to tell their constituents the truth; the Bush administration's reckless economic policies and massive war spending has put us TRILLIONS of dollars in debt. By 2080, Walker predicts the fiscal imbalance will be over $25 TRILLION. Such unimaginable debt will only result in this country becoming so mired in debt that it will not be able to function any longer.  -RKO-  06/23/08

Answer 7

YES I THINK ITS POSSIBLE.

Answer 8

Spending!  Everyone is and has been spending way beyond their means.  We are soon to become a nation that is 'property poor'!  We will have all this land without any use for it.  Everything we have and buy is made somewhere else in the world, namely China.  We have literally "sold out"!  I am afraid that other countries will not be as generous as we have been.  But then again every 'goodwill' has come with a pricetag.  So, I can't really blame them if they are not as nice as we have 'appeared' to have been, to them.

What goes around, comes around!

Answer 9

Every nation has a fixed time of Glory. I think US is wearing out on its climax. So ya to your Q!!!!