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Why can't the Federal Government declare bankruptcy and apply for a Chapter 13?
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August 15th, 2011
American citizens apply for a Chapter 13 or 11, everyday in Federal Bankruptcy Court. It’s their way of reorganizing their debts to be paid throught the court, in a given time period. Question: so, can the Federal Government apply for bankruptcy in Federal Court? What effect would this have on the world’s economy?
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