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Post by Deleted on Oct 6, 2013 8:50:43 GMT -6
Can the Goverment take Bankruptcy?
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Post by dive61364 on Oct 6, 2013 9:54:31 GMT -6
I think the government is already bankrupt. japan owns us right now since they have bought up our debt. there are ours more qualified on here to answer your question better then I can jude20.
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Post by OutlawwithaSnipeSniper on Oct 6, 2013 13:29:35 GMT -6
Technically, no, they will be forced to cut spending to come in line with revenues.
The problem they face is the liabilities are so great, the haircuts will be traumatic.
Right now, the estimated forward obligations of just Social Security/Medicare are right at 100 Trillion dollars. Our GDP ( Gross Domestic Product ) is about 15 Trillion...............
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Post by Deleted on Oct 6, 2013 13:31:56 GMT -6
I knew u would know sniper. Thanks
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