You go bankrupt, you restructure your debt, your debt gets reduced, and then you start anew. The problem with the US government, If we ever defaulted on $34 trillion in debt, we would collapse the whole globe into a depression. that would probably go on for at least one to two generations. So what are we left with with all this debt? (01:21–01:29)
CLAIM
Asserts that a U.S. default on its $34 trillion debt would trigger a global depression.
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