Hey foreigners! What if the U.S. didn't pay back its debts?

[999969999]

This question is for people outside of the United States.

I'm curious. What do you think about our national debt?

Do you really think we will be able to pay it back?

And, let's just say that we were unable to pay it back, what would you think about that?

Does any of this worry you?

I know how worried the Europeans are about Greece not paying back its debt, but it is virtually nothing compared to our debt.

What do you think would happen around the world if the United States got to the point where it could no longer afford to even make the interest payment on our debt?

Would it be like the Titanic sinking and then sucking down the rest of the world's economies with it?

In accounting we have something called the Allowance for Doubtful Accounts: "An Allowance for Doubtful Accounts measures receivables recorded but not expected to be collected."

I would say that our debt fits this definition.

[clocker]

In accounting we have something called the Allowance for Doubtful Accounts: "An Allowance for Doubtful Accounts measures receivables recorded but not expected to be collected."

I would say that our debt fits this definition.
And you think that's a good thing, I assume.

Actually, no assumption need be made...you identify as a conservative and the national debt has grown far more under Republican control than under Democrats.
One can correctly say that the bedrock of "conservative" financial management is to run up unsustainable deficits and then threaten to default on the payments.

[mlindsay]

C'mon man, who is gonna colllect on the U.S ? :) I heard a joke a while ago and it went a little something like this.

Country A: Hey U.S.A, you still owe us all that money and you haven't paid us yet. What did you spend all that money on ?!!!
U.S : We bought a bunch of nukes and tomahawk missles, want to see them ?
Country A : On second thought... we are not in such a rush to get our money. You can take a little longer if you want.

[mjmacky]

Just as with any parody skit, some hit and some miss. I feel like this one misses.

[Lucifer9999]

Why should we care?? U can burn in hell or whatever.. :))

[clocker]

Who is "we" and who is "u"?

[Lucifer9999]

Who is "we" and who is "u"?

I am sure u are a smart person, so stop doing this!! :)

[mjmacky]

Who is "we" and who is "u"?

Hook nose.

[ckrit]

I wasn't aware that the US was in the habit of paying back their debts at all.

But now that the billions owed to the UN are almost paid, I'm sure they can keep up with the rest of their payments.

[999969999]

Why should we care?? U can burn in hell or whatever.. :))

Oh my god! Another Lucifer on here!

I just thought with the way the world seems to be having a panic attack over tiny little insignificant Greece being unable to pay back its debts, it might want to prepare for a very large debtor like the U.S. stiffing them as well.

[mjmacky]

I just thought with the way the world seems to be having a panic attack over tiny little insignificant Greece being unable to pay back its debts, it might want to prepare for a very large debtor like the U.S. stiffing them as well.

The U.S. and Greece are directly comparable, being that the U.S. is not part of a collective with a shared currency and subject to the wills of other nations in order to remain in said collective.