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Is America now technically insolvent? Bankrupt?
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If the United States is to go brankrupt, the whole world will suffer, probably will face the same fate as the USA. By far, America is still the largest economy in the world, importing large quantities of product from most countries around the world. In this borderless world, every countries have to work hand in hand in order to survive. The USA has to cut down their budget; defence for example to trim their budget deficit. This will lead to the decrease in their national debt curently stood at about US13 Billion.
Just personal view.
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