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<p>[QUOTE=&quot;Cloudsweeper99, post: 861720, member: 3011&quot;]Why are you taking advice from one of your students?&nbsp; What&#039;s wrong with this picture?&nbsp; Anyway, no, the US government isn&#039;t broke.&nbsp; It really isn&#039;t possible for them to go broke as long as they can print currency to pay the bills.&nbsp; If the US loses that ability and has to denominate its debt in another currency such as Euros or Yen, then bankruptcy becomes possible similar to Greece and Iceland.&nbsp; Regarding the inflation issue, nobody knows for sure although everybody can guess and those who are correct can claim they knew it all along, not quite realizing that all they did was call tails correctly.&nbsp; The reality is that there is about an equal probability for inflation or deflation [i.e., default] depending on policy decisions that haven&#039;t been made yet.&nbsp; There certainly will be a lowering of purchasing power, but it might happen because the dollars are worth less or because there are fewer dollars.&nbsp; Nobody knows, and nobody but the policy makers could know, and they haven&#039;t decided yet.[/QUOTE]</p><p><br /></p>

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