nanarchy on 30 October 2011
The US banking bailout from memory was in the order of 700 billion, some of which they do get back through assets, current US debt is nearly 15 trillion dollars and rising. The banks greed and idiocy and bailout didn't help the situation but even with a perfect banking system the US would still be circling the drain pipe with massive debt.
defaulting is really not a viable option, yes they could do it but they would completely wreck the US economy and businesses, really the only option soon will e increased taxes for everyone and massive services and military cuts.
