What will our country look like after it goes bankrupt?

[Koz]

With the passage of this healthcare monstrosity it is a foregone conclusion that we will go bankrupt in one form or another in the future. I don't know if it will be in 10 months or 10 years but it is inevitable now.

What will the aftermath be, will we scrap the Constitution? Will we revert to it? Will we become an oligarchy?

Just curious what your thoughts are. Whatever it is I don't think it will be good.

 

[Deborah K]

It will be bad for a while. If enough people wake up, we can restore the republic. If they don't - we're heading toward global governance, one currency, and total secularism, i.e. a totalitarian regime - freedom will be lost until the cycle repeats itself again:

 

[Erazmus]

Like this.

 

[Tenbatsu]

The United States Government will be collapsed and then consolidated into a new despotic world government.

 

[Fox McCloud]

Before:

after (not immediately, of course):

ok, bankruptcy wouldn't cause that much damage, but it will cause some decay...sadly, not to DC, if anything, it's far more likely that DC would end up looking better in the long run if bankruptcy lead to a despotic form of government.

In any event, if we default on our debt, hardly anyone will want to borrow from us again for a very long time....which means that the only two methods of raining revenue would be taxation and inflation....and well, you know which one they'd rely more on, in that scenario.

 

[fahayek]

It would look just like it does now because we are already bankrupt. Once our debtors call our bluff we're toast. We currently trade IOU's for wealth because almost everything you own is foreign made that we traded for bonds.........and we're threatening China with trade disputes...hahahahahahahahahahahahahahahaha!