Let's say you make $14,000 per year but you have $66,000 in excess credit card debt at zero percent interest.
You have to pay your normal living expenses so you might be able to pay $150 / month against this debt.
You would be bankrupt.
As a nation we generate $14 trillion, but our government collects around $2.5 trillion of this. We have $66 trillion in accumulated debt.
We cannot seem to pay anything against our accumulated debt.
We are bankrupt.
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