America's not going bankrupt or is it?
I'm writing about fiscal bankruptcy, not moral bankruptcy which I'm sure some one else can blog about.
So, how can that be, after all the United States is the richest country in the world?
I'm going to be very brief, if you borrow money and don't pay it back under the the terms that it was borrow, you are in default of that loan.
The way I see the U.S. government borrowed money from the social security trust fund. Now there is talk by politicians of not paying the whole amount as promised. If this were to happen that means that the government reneged on it's deal when borrowing the money.
Now because I'm a plain simple guy (some might even say I'm a simpleton)the only way not to pay what is promised is to declare bankruptcy. This being the case America could very well be declaring it's self bankrupt.
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