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Congress Bankruptcy

A letter to Congress

A letter to Congress 

I found this great post on facebook and it got me thinking. I guess a lot of tea party republicans seem to believe that that worst comes to worst the federal government can just file for bankruptcy and everything will be cool. I wonder if any of these lawyers ever read the laws concerning bankruptcy.

First none of the debts I have seen listed on the news is dischargeable under Chapter 7.   I don’t think the United States Government can even apply for bankruptcy protection.  Would congress have to go to the United Nations for Bankruptcy protection? There was an article on a MSN new website that said if we default China our largest debt holder would foreclose on the United States.

 

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