Should the United States declare bankruptcy?
Yes, the U.S. is in much debt.
Side Score: 3
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No, the U.S. shouldn't.
Side Score: 6
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Insofar that the United States is bankrupt, such a declaration would only be a statement of confirmation of what everyone, including the dogs in the street, already knows. To continue borrowing when insolvent without any strategy in place for the repayment of borrowed money is, in corporate law, illegal and would leave the directors personally liable for the debts incurred whilst under their administration. Only those suffering from diminished responsibility would continue to 'kick the can up the road' ( as the smooth orator Obama has done) for future generations to face. The Chinese are lending money to the United States so the gullible American public can afford to buy their goods and produce. Every time an American, or European for that matter, buys a ''Made in China' product they're strengthening the military and industrial might of the Chinese. If Donald Trump is elected into office he will go down in history as America's Messiah. Somewhere, sometime the United States administration of the day is going to have bite the bullet and inform it's citizens the true gravity of the fiscal disaster which successive administrations have created. Donald trump is one of the very few, if not the only Yank with the moral fibre and political courage to shock the American public out of their state of ''Obama induced'' denial. Side: Yes, the U.S. is in much debt.
The U.S. is bankrupt but Progressives just can't see it so their answer is just print your way out of it with money that will soon be nothing but ass wipe ! Gold and Silver is the only way to go to escape the coming Progressive caused Depression ! Side: Yes, the U.S. is in much debt.
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Of course we shouldn't. That would solve nothing. And in fact in the long run it would ruin all chances of our Nation ever becoming solvent and debt-free. Well, in reality we already ARE solvent. We still function; people get paid; the dollar is still one of the planet's leading currencies; we are still a world power; and the debt CAN be taken care of, in time. And we DO have the time, as there is no real hurry on this.
Besides, are you familiar with what happens to a nation when they formally declare bankruptcy? It's not good. http://www.economist.com/blogs/ Side: No, the U.S. shouldn't.
Declaring bankruptcy is a legal means to hold back creditors. But internationally there is neither a law nor power in a central authority to both receive a declaration of bankruptcy from a country or to moderate the process by which their debts get repaid or not. Basically the US has no one to declare bankruptcy to. Bankrupt countries simply stop paying their bills. Which in turn stops more foreign investment into their country. Which creates a vicious spiral of failure. Side: No, the U.S. shouldn't.
The US is in extreme debt. But we have enough money to pay it off and still build that stupid wall and golden statues of every president (after that we'd still have an extreme surplus) The US just knows that eventually countries will stop caring about there debt, or they hope they will. Side: No, the U.S. shouldn't.
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Well, if we did, wouldn't that make U.S. all geniuses .... like The Donald??? He's done it 5 times! HE came back. There's some question whether he even HAD the amount of money he claims to have lost (kind of like if Hillary really DID have anything in her e-mails....). We don't know, we don't have either the e-mails OR Donald's tax returns. We don't know which, if either, is telling the truth. I think, if people like the Donald paid the taxes, they SHOULD have paid, our debt would be much less! We'd have better schools, roads, and the VA would have the funds to improve their ever-growing responsibilities. PAY YOUR TAXES billionaires, GE, EXXON, etc.! Then we'll get out of bankruptcy possibilities MUCH quicker! Stick with "regulations", Wall Street, and invest your "bonuses" in America ... schools, the VA, clean energy! You know, the America that, regulations or not, ALLOWS you to be rich, gives you the vehicle to become what you are! Give BACK instead of investing in "Ginese" cheap labor! It shouldn't be the middle class that has to bail out the country, it should be those who REALLY TAKE from it, store their money off-shore and give back as little, if any, as they can! WE, the middle class can't DO that! WE can't even afford the genius lawyers that REALLY make those others LOOK LIKE geniuses .... WE have to PAY! Side: No, the U.S. shouldn't.
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