If the US population borrowed as much money as it qualified for, how much would the US be worth?

Question

How much money would be borrowed? How much credit do you give the US?

Answer 1

Technically the amount owed by just the US government, not including debts of private citizens or businesses, corporations or any other debt is greater than the net worth of the nation.  The US cannot service it's debt beyond minimum interest payments on it.

Don't feel bad: western nations as a whole are in this situation.  Your wealth is NEVER measured by your borrowing ability.

Alby, good answer but the bad news is that US debt is well beyond 17 Trillion.  The figure you quote disregards much of the horrendous truth that shows the US as the world's greatest lender in the 1940's and the world's greatest EVER debtor today.

Answer 2

If we are paying $261 billion dollars a year on our National Debt of around $9/Trillion and the US brings home $2.6/trillion a year in tax receipts. Then I'd estimate that we could run up a national debt of around $80/Trillion.

The bad news, you wouldn't be able to pay for anything other than Debt payments.  No Military, No Social Security, No Roads, no nothing. Kinda like giving your whole paycheck to the credit card company and having nothing left over.

Answer 3

The USA has already borrowed more than it's worth .. as have large numbers of individual Citizens ..

In the case of the whole country, the deficit is corrected by the exchange rate (you may have noticed the $ falling in value ?? that's the whole of the USA falling in value to what it's worth .. maybe zero ? :-) ))

In the case of individuals, borrowing more than you are worth  soon leads to the people doing the lending refusing to lend any more == and eventually leads to bankruptcy ..... (you may have noticed this as well ??)