Is america bankrupt?

Question

or on the verge of bankrupcy?

Answer 1

Hardly on both accounts.  Do the math.  Even if every person (and I know every person can't but just say) paid one penny in tax that makes 300 million pennies which is how much?  Now the average tax paying citizen pays a h**l of a lot more than a penny which is multiplied about 160 million times and this doesn't include all the taxes and fines that the corporations have to pay on a quarterly basis.  My company pays several thousands in taxes every quarter.  When you really get into the math you'll see it's impossible for America to go bankrupt in this day and time but the LIEberal media wants you to think we are.  It's just another typical LIEberal media lie.  They are really good at making those up.

Answer 2

First of all, "america" can't go bankrupt, but its government COULD.

The federal government currently owes about ten trillion dollars.  Individual Americans don't owe that, the government does.  Granted, the idea is that they are eventually going to pay it from our tax dollars, but we do not personally owe this.  Should the federal government decide not to honor the debt, holders of T Bills aren't going to take ME to court and take my house.

However, taxes are NOT the only asset of the federal government.  At present, the United States government owns approximately one-third of the land in America.  I feel quite certain that the total value of it, even considering a lot of it is frozen tundra or desert or what looks like a lunar landscape, the Fair Market Value would go well over ten trillion.

No, not bankrupt, but definitely "fiscally irresponsible".  

Answer 3

We sure do spend a lot of money every day in Iraq.

Answer 4

The US is 8% of the world's population, yet controls 28% of the world's assets, and produces 25% of the worlds goods and services.

Dont worry, we are still the only national superpower, economically.

Answer 5

not bankrupt... just trillions in debt.

The republicans blame the democrats for it because their social problems while the democrats blame the republicans for it because of their wars...  Both are full of BS and have no care for the future of our nation.

Answer 6

I guess it would depend upon your definition.  There are many kinds of bankruptcy, and we are on the cusp of many.  Economically as well as morally.  The signs have been obvious to many for a few years, but there are too many in denial and refusal to accept something does not permit it to go away, it just metastasis' like a cancer.  Sooner of later you will be forced to deal with it.  You make the decision, do you wish to let things continue the way they have been going?  If so then vote Republican in November.  If not then your only other choice is the Democratic ticket, but be prepared to take the medicine needed to combat the cancer that is growing, it is not going to go away without intervention.

Answer 7

No.

Answer 8

so much so that each citizen "owes" China $30,000+

we don't really owe it, our government does but, wow, that's a lot of money!

Answer 9

Bankruptcy is generally defined as the condition in which one's debts exceed one's assets.  The debt of the u.s. can be measured, but there is no reliable way in which to measure the assets.  

Answer 10

Nope, richest country in the world by far.

U.S. Purchasing Power: $13,860,000,000,000 USD

U.S. Gold Reserves: $65,890,000,000 USD

Answer 11

hardly. we are the richest country in the world. but we are starting to lose that power. besides, an entire country cannot go into backrupcy, people who owns businesses of some type can apply for backrupcy. which is happening a lot more often lately in america.

Answer 12

We're way past bankrupt. Paper money is meaningless the richest country in the world is Japan. They have the assets (gold) to back up their paper.Gas prices are not going down our money is going up in value. If it had the same value as when Clinton was in office (not that Clinton was responsible just establishing when the dollor started to slide) gas would be under 2 bucks a gallon. You can bet the oil crises hurt America long term as countries now want to switch to the euro for stability/

Answer 13

Has been for years, morally that is.

Answer 14

Hardly.

The morality pundits will readily agree. Too free with s*x, too loose etc.

Financially, its economy is oil driven as with the rest of the western based industrial countries.

So - look at the picture.

Oil producing countries control the supply. They drive it higher and higher.

Everybody owes them in the end.

There had been scientists who had seen the choking of the western economies due to the finite supply of oil 60 years ago.

They experimented with new sources of energy.

Dis their efforts get squashed so that the dependence on oil remains intact?

OK. getting to the verge of bancruptcy may be the best term to apply to the current scenario?