> unable to meet their current obligations Things get tricky with governments where it's kind of trivial to raise more money by a) raising taxes, b) simply red

> unable to meet their current obligations Things get tricky with governments where it's kind of trivial to raise more money by a) raising taxes, b) simply redefining your obligations (in the case of programs like SS or Medicare/Medicaid) or c) just making more money ex nihilo.