Technically you're right. Anyone who can print money can not go bankrupt per se, though it doesn't mean that those governments do not destroy themselves and their citizens by resorting to the printing press. That's the worrisome part.
It is impossible to spend our way to prosperity or print wealth. Wealth is not money nor is money wealth, but rather wealth is the capital of a nation as represented by machinery and other factors of production.
Money itself is a token used to trade for those things, the creation of which does not generate more capital just more claims to that capital.
This results in an increase in prices, but prices do not increase evenly and the inflation in the supply of money does not effect the populace evenly. Instead it stretches the middle-class to non-existence, impoverishing many at the expense of the politically well-connected (i.e. they are the ones who get the money before it has lost its value).
This is what I'm worried about. This is de facto bankruptcy. This is where we are headed if we do not change course.
This is why the thugs in Washington need to stop with the cockamamie spending plans. They are destroying us.
To hell with universal broadband.
