Is the U.S. Economy Bankrupt?

How to save a Bankrupt U.S. Economy?!! Emerites
Consider this: "The United States is now, in some very general sense, bankrupt." That is not some gimmicky headline-grabbing statement from a politician or some throwaway line in a bar. It is the hard conclusion of one of the economists I follow closely, John Kemp.

According to money.cnn.com the U.S. needs to borrow $2 billion a day from its creditors overseas just to keep the lights on

These are some pretty scary thoughts. The U.S. has to borrow money to keep it's infrastructure going. And... it's credit system is in a big state of distrust.

No wonder the North American citizen is in debt over their heads, because they're watching closely the government's example. If the government can borrow like that, it must be okay for me to borrow like that.

The simple truth is: "No, it's not okay for anybody to borrow like that."

Would you advise tell an insolvent individual to borrow more money to pay off their debts? For that matter, would any creditors lend them money? NO!! to both questions. It's ridiculous to even think.

However, this is what they're proposing for the over leveraged bank system. Get the government to throw more debt sourced cash at them them, to unclog the pipes. I love that terminology... unclog the pipes. Can a bankrupt individual unclog their pipes with more credit input.?

U.S. Economy and Financial System Bankrupt --What's next?

It's pretty bad when other countries are openly publishing the fact that they feel the U.S. is bankrupt. I can hardly blame them for that matter.

Here's my advice to the U.S. government. Start paying down your debt, and put money in the bank. Balance your budget and stop spending more than you make!! Kinda basic advice from Canadian-Money-Advisor.ca !

You're welcome!!

This articles talks about:
Is the u.s. economy bankrupt?
How can we tell if the u.s. economy is bankrupt?
Can the u.s. government declare bankruptcy?