I still think they could begin to pay off their debts by selling all their military equipment (that's where the borrowed money went, isn't it?). Lots of warships, stealth bombers, missles, etc that could go a long way to squaring America up. I'm sure there must be *some* Americans who feel like shit knowing they are not good for their word any more.
The world should treat America like a dead-beat nation, and start taking back equipment, land, and infrastructure. American's respect bounty hunters and collections agents, it'll be cool.
There's lots of land, the locals could be moved to reserves to free up the good land for the actual owners (the Chinese).
We can dream.
The military equipment would not be sufficient to pay off the debt of the US government, plus there is not sufficient demand for this equipment. Plus such sales would be a threat to both national and world security.
A much more viable way to payoff the national debt is entitlement reform