4 ms·
isn't the US then the same by your reasoning? we should flee the US as well.
by runwerks 9y ago
isn't the US then the same by your reasoning? we should flee the US as well.
- cletus 9y agoThe US is not bankrupt or insolvent: https://en.wikipedia.org/wiki/Financial_position_of_the_United_States https://en.wikipedia.org/wiki/Financial_position_of_the_Unit...
- ww520 9y agoUS Federal debt is in USD term so it can always repay its debt with printed USD. Technically it is not insolvent.
- j4ship 9y agothe down votes of truth .... hn is a cult
- apike 9y agoThe US can always pay its debt because it is denominated in US dollars - it can print sufficient US dollars to meet its debt obligations. States do not have this ability.
- hackeraccount 9y agoIt might be if it had a constitutional amendment saying Medicaid, Medicare and/or Social Security were untouchable. It doesn't. There's no spending in the US that's not on the table. When or if push came to shove it's not hard to imagine some or all of those programs being cut just as it's not hard to imagine taxes going up.