Can the U.S. Congress declare bankruptsy, print new currency and start with a clean slate?

Question

Maybe they can just declare a big chapter 7 or chapter 13 default and everything will be swell. The next President will have to help them start over. Maybe when they return from vacation they will do something. I am trading dollars for Euros. Maybe that is what "change" means?

Answer 1

I'm sure you'll get a wide variety of answers to this......not all pleasant, I'm guessing.  

Wouldn't it be nice if we just printed a lot of money and paid off our debts and called it good?  It's not like we don't have the ability to print the money.  

Answer 2

Economists have already predicted our economy would collapse when oil is traded in Euros instead of the US dollar.  That is already under way.  One of these days, the interest rates will have to rise so the dollar will regain its value.  Hopefully before its too late.