How soon before america goes bankrupt?

Question

what will happen to us?

Answer 1

WTF? We are bankrupt and have been for awhile.

Not only our government but for the first time in our history, the American people are bankrupt also.

Ask the first...say 20 people that you talk to in the next few days and ask how much (politely) money they have saved...then ask how much they OWE...Most Americans are at least $20,000 i debt plus the $30,000 that Bush borrowed. Many have mortgages and car payments that put them in debt in the 100,000 of thousands of dollars. Many owned their own homes and had paid it up and only owed property taxes until recently and got talked into equity loans that caused them to take money out on their equity and then got in debt because of medical problems or they lost their jobs...Now they OWN zip and owe money at high interest rates.

What happens when a country owes money to other countries? it has already happened. The worth of the dollar goes down and the price of things goes up.

it would be nice if our educational system taught these things although we have never had a government that did this. In WW2 we did borrow but we continued to save (as people) so we weren't at risk as we are now.

If you want to understand our future, check out what happened in Italy in the 1920's or Argentina in the 1970's...we are at that stage.  

Answer 2

If we have to continue to pay for everyone on Public Assistance it might not be too long.  Sad.  We pay taxes "thru the nose"...wish we could get free medical.  Sad.  

Answer 3

Financially bankrupt? As Slightly Dark Francis touched upon the fiat money system and wealth-confiscation schemes run by the Federal Reserve Bank are falling apart. The collapse may take place in the next 10 years.

Ethically bankrupt? That started in the 19th century and was completed in the second decade of the 20th.

Answer 4

Maximum 3 years and u will go to countries like Russia  

Answer 5

If it weren't for the fact that Bush (four times) pushed through legislation to increase America's debt ceiling, The Federal Reserve would have declared America bankrupt a couple of years ago.  

http://www.npr.org/templates/story/story...

Answer 6

We are bankrupt now. 9 Trillion in debt.