If A Country Goes Bankrupt, What Happens?

@Talknpen (1822)
United States
May 4, 2016 8:34pm CST
If a country goes bankrupt, what happens? I have been thinking about this for some time now. Overspending is not good for anyone or anything. How does poor financial management affect a country's people in the long run? Are they doomed to take on debt without any clear way of paying it off? Do people go without important services? Are they subject to charity for generations and generations?
2 people like this
3 responses
@ricki_911 (19462)
• Toronto, Ontario
5 May 16
They borrow the money like everyone else
1 person likes this
@Talknpen (1822)
• United States
5 May 16
Hi Ricki. Yep. Borrowing is quite the issue these days.
@teamfreak16 (41181)
• Colorado Springs, Colorado
5 May 16
Didn't Greece go bankrupt a few years back? I thought they just kept borrowing from other nations.
@Talknpen (1822)
• United States
6 May 16
Hi Scott. I remember that problem with Greece. I really don't know what their solution was.
1 person likes this
@sugartoes (40759)
• Greencastle, Indiana
5 May 16
if the country goes bankrupt we're pretty well F no matter HOW you look at it we're not far from it but I think with trump in office I think we have a chance.
@Talknpen (1822)
• United States
5 May 16
Hi Empty Pockets. Thank you for your comment today. It is definitely something to think about. Thank you for your thoughts.