It would appear that bankruptcy looms:
“We’re going to go bankrupt as a nation,” Biden said. “Well, people when I say that look at me and say, ‘What are you talking about? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, I’m telling you.”
Actually, the USA is going to go bankrupt no matter what it does now. It’s just a matter of time; although it’s impossible to say how much time, one can safely predict that it will be sudden and shocking whenever it does happen. It’s interesting that both Obama/Soetoro and Biden have come right out and told the country that the USA is out of money, but no one except Goldman Sachs appears to be taking them seriously.