Would $10 gas topple the United States into insolvency?

Question

Currently we are squirming at close to $4 a gallon. Truckers are striking already and gas prices just seem to continue their march upwards. So if we were to ever see $10/gal gas at the pump do you think that would be enough to tip our debt laden butts into national bankruptcy? See NY SUN link below for article on this.

http://www2.nysun.com/article/75363

Answer 1

In my opinion, because the United States is such a huge consumer of oil and gas, the market price would not be able to become that disruptive to our economy because when our consumption began to decline significantly, the price would recede to a level that has less of an impact.

Answer 2

I hope it doesn't happen, but the truth is look out for your self's because the government really doesn't care about you.

Answer 3

yes it would ,but actually the united states isn't far from being bankrupt now,were in debt so bad it would take a miracle to get us back in the black again,i think 5 bucks a gallon would do it,and like you said its not far from that now,when it starts hurting the middle class people that's getting bad,good luck.

Answer 4

I think we should drill in Alaska for oil and not worry about the nuts that say we will hurt the envirement. We are seeing the results of this with high prices. Once the Middle East sees that we are exploring for oil, they will lower the prices and give us more oil.

Answer 5

I like the stimulus package. We borrowed the money from China. Add up the interest and the large amount of additional money that will go to their goods and services. What is China intending to do with the money? They are building up their military!

Answer 6

Truckers are striking? Really where? Not where I am. Actually I think this country needs for everything to fall apart..Because until it starts to effect the rich people and that is what runs this country nothing is really going to get done about. I also agree that to much of the countries energy resources are not being used because of the environmentalist.