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Countries can not go bankrupt the way that individuals or businesses do. If the country's credit rating drops further, foreigners will be less eager to buy US bonds and interest rates will arise. The government will find it more expensive to increase the debt. Higher interest rates also drive up the cost of doing business and have bad effects on the general economy. Adjustments will have to be made at some point by government-- taxes must be increased and/or expenses must be cut. Both tend to weaken the economy and bring hard times for the people . Cuts in defense would weaken national defense with unknown results. Cuts in social programs tend to hurt the poorer and less privileged the most. Cuts in education
(another opinion)
I don't want to disillusion you but the US is bankrupt. Our nation's debt is nearly $16-trillion dollars and our annual deficits, in the foreseeable future, exceed $1-trillion per year.
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∙ 11y ago
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What happens when supply goes down?
when supply goes down the price goes up>
What happens when price goes up in elasticity of demand?
demand goes down
What happens to prices when there is a surplus?
the price goes down
In which year did General motors go bankrupt?
General Motors has gone bankrupt six months ago/////they are not bankrupt they just ment under the protection of the court to give them time to reorganize
What happens after the demand for a fad drops?
The price goes down, and the quantity supplied goes up
What happens to the government if a company goes bankrupt?
Nothing.
What happens if your city goes bankrupt?
It can not pay its employees or pay for its services.
What happens to your warranty when a company goes bankrupt?
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
What happens to a publicly traded company when its stock goes to zero?
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
What happens to your 401k if AIG goes bankrupt?
I have a claim on a car insurance policy with AIG. What are the chances of this claim being met?
What will bankrupt solve?
When one goes bankrupt, one's debts are cancelled.
Will i get my money back if my travel agency goes bankrupt?
Not likely. Bankrupt means that they have no money.
What should you do if your state goes bankrupt?
move.
What happens if NASCAR goes bankrupt?
Well, NASCAR maybe purchased by another company or person. It is too big to just give up on. Someone will buy it.
What happens to a bank loan when a corporation goes bankrupt?
The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
What does it mean when a bank fails?
It means a bank goes out of business or goes bankrupt.
Can you get a US visa if bankrupt?
no
