How can we bankrupt the federal government? Simple: just keep doing what we're doing and wait a little while.
I.O.U.S.A. is a recently-released documentary about the national debt, and its conclusion is frightening. The U.S. is on a path toward financial ruin, and none of the major political figures are talking about it. This isn't just a big conspiracy theory by a bunch of crackpots, either. It's explained by top figures in finance, including Alan Greenspan, Paul Volcker, Robert Rubin, Alice Rivlin, Warren Buffet, and David Walker. These are people who have run the Federal Reserve, the Treasury, the Government Accountability Office, and the New York Stock Exchange.
The documentary is a fascinating and scary look at our country's financial history and possible future. I'd encourage you to take the time to watch the 30-minute "byte-sized" version (below). You can also watch the trailer or watch the full-length movie in theatres.
(Higher quality version available from blip.tv)