What Happens When America Goes Bankrupt?

Of course, the U.S. is a sovereign nation.  It is also morelike a corporate entity as well.

Frrom Zero Hedge:

Last week in the Land of the Free, I heard a radio campaign ad for a local political candidate while in Texas. In the ad, he was talking about the debt and excessive government spending. And then he said something along the lines of, “We need to get this under control before America goes bankrupt.”
‘Buddy,’ I remember thinking, "America isn’t going bankrupt. It already IS bankrupt."

This is the stuff that revolutions are made of. It’s already happening around the world from North Africa to Southeast Asia. And it’s starting to spread to the West.

http://www.zerohedge.com/news/2014-05-14/what-happens-when-america-goes-bankrupt