debt =/= bankruptcy. Unrecoverable debt is bankruptcy. While the argument could be made that our debt is past a recoverable point, it is not a certainty.
"While the argument could be made that our debt is past a recoverable point..."
I'm not sure it could, unless I'm misunderstanding. The US could print up 15 trillion dollar notes tomorrow, and pay off all of it's debt. Of course, this would cripple the economy in a matter of hours, but it would still pay off the debt.
Right. The usa can't go bankrupt because they have their own currency. Also, a majority of usa debt is held by Americans, the remainder held by foreign governments with no better options to park trade surpluses (the USA playing an imprortant role as the most reliable debtor of last resort).
