Comments on: Will The United States Go Bankrupt?

By: Christine

Christine — Mon, 15 Sep 2008 20:04:10 +0000

Fact: The US dollar is steadily decreasing in value in comparison to the Euro, which is now the ONLY currency the OPEC nations will accept as payment for oil.
Fact: The US has bankrupt itself by continuing to subsidize those on welfare who have not contributed one red cent to the economy, illegals who have infiltrated our country and continue to suck dry the somehow readily available aid given to them for being here ILLEGALLY when all they really deserve is deportation, AND by continuing to GIVE away TRILLIONS of dollars to foreign nations who will never repay their debt or have any interest in fair trade policies unless they are the sole beneficiary in the interest of kickbacks (politicians lining their own pockets).
FACT: The government has caused this crisis by assisting corporations and businesses using cheap foreign labor and allowing them to continue to outsource Americans’ jobs.
IF these are the people contributing to the so-called “BAD LOANS”, our government has noone to blame but themselves.

By: Bo

Bo — Thu, 13 Dec 2007 20:52:19 +0000

The U.S. can never go bankrupt because we print money. Hyper-inflation can occur but not likely. I didn’t follow the link but if a writer at CFO is suggesting bankruptcy, he/she is using the term figuratively, inaccurately and downright ignorantly.

Bankrupt U.S., Global Warming..we’re all headed to doomsday soon.

Sheesh.

By: Mike DeWitt

Mike DeWitt — Tue, 11 Dec 2007 15:23:24 +0000

The article uses the term “bankruptcy” to mean that projected revenues won’t match projected expenditures. Does ANYONE think that Social Security and other entitlement programs won’t need to undergo massive overhauls in the next decade? That’s what we’re talking about, and that’s the issue that politicians hope they can forestall until THEY get out of the game. Under that definition, HELL YES the US will go bankrupt!

By: Jason Byrnes

Jason Byrnes — Mon, 10 Dec 2007 23:21:15 +0000

Seems like a panic reaction to the downturn of the loans market to me, as a broker in the uk ( http://www.securedpersonalloansukonline.co.uk ) i have been expecting to see a huge downward spiral in the loans market for the last 12 months, so its no real surprise.

By: Jason Byrnes

Jason Byrnes — Mon, 10 Dec 2007 23:18:23 +0000

I cant realistically see the u.s. going bankrupt – please!! they will probably enter a reasonably bad recession, but a nation as powerful as the u.s. will not go bankrupt, its near impossible and foolhardy of those who believe it.

By: Richard

Richard — Fri, 07 Dec 2007 15:52:46 +0000

Orange County, California recently went through bankruptcy. What was the effect?

By: Jay

Jay — Fri, 07 Dec 2007 15:34:19 +0000

I’ve thought about this issue for decades. The bottom line is that “bankruptcy” of the government would mean massive inflation, probably a currency rejiggering, and when it is truly accepted what a problem we’ve dug, true changes to the budgetary roots of the problem. It’s less likely debt owed lenders to the government would be – why can’t I think of the word even with no kid crying a few feet away? – that is, creditors would not likely be stiffed per se. It’s just that inflating the currency accomplishes reducing the debt, but is a dangerous game. Which we’ve played enough before that perhaps it *won’t* become a factor, changing the scenario and possibly rendering it even worse.

Guess I should go see what the link says…

By: Andy Swan

Andy Swan — Fri, 07 Dec 2007 13:57:02 +0000

Never forget to include political incentives. This is extremely likely when dealing with professors or think-tanks. Doom and gloom and sky-is-falling turns out the vote.

By: Nick Huhn

Nick Huhn — Fri, 07 Dec 2007 12:21:02 +0000

Taxpayers will go bankrupt long before the government does. No worries!