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"Is the United States Bankrupt?" by Laurence J. Kotlikoff

http://research.stlouisfed.org/publications/review/06/07/Kotlikoff.pdf#search='will%20the%20united%20states%20go%20bankrupt'

is a recent article published in the Federal Reserve Bank of St. Louis Review, July/August 2006 issue.

The author concludes that countries can go broke, and that the United States has been staving off bankruptcy with it's foreign trade policy, but that it is just a matter of time. He proposes that radical reform of U.S. fiscal institutions is essential to secure the nation's economic future.

I would like to find out what you believe is the best course for the United States. Consider how social, political and economic foreign policies tie into this. How, for example, do you weigh this issue with our continuing social, security, and world issues and the possible loss of soverignity (Security and Prosperity Partnership Of North America/ http://spp.gov )? What is the comprehensive solution?

2006-07-16 12:34:13 · 4 answers · asked by Wu__Wei 1 in Politics & Government Other - Politics & Government

4 answers

As long as Congress can keep raising the debt ceiling (i.e. increasing its credit limit), the US can keep borrowing from other countries.

The fact that it could never pay back all the loans is irrelevant. No other country out there (except maybe China) has the political might to attempt to foreclose on the US debt, so the US can just keep maxing out its federal credit cards forever.

2006-07-16 12:43:37 · answer #1 · answered by coragryph 7 · 0 0

YES!!!Stop all foreign aid, get the UN out of the USA and get the USA out of the UN, stop all aid to Africa, because that is like throwing money down a rat-hole, call in all the money that foreign governments owe us. Withdraw all American troops to the USA and reinforce our borders, and if I can come up with something new, I will tell you later.

2006-07-16 12:45:27 · answer #2 · answered by Vagabond5879 7 · 0 0

I don't think the republican want to balance the budget maybe there rich friend get richer buying bond,or the banks get richerwe were on the road ti paying the national debt off we just need to tighten our belt and pay this off

2006-07-16 12:40:35 · answer #3 · answered by Anonymous · 0 0

North American Union. I think the cheap labor from Mexico and all that oil and resources and ROOM in Canada will help us a lot.

But we are far from bankrupt.

2006-07-16 12:38:45 · answer #4 · answered by Anonymous · 0 0

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