Most major economies of the world are currently running government debt. Dne potential solution is for the Government to default on that debt [declare bankruptcy} and never pay it back. What are some potential economic downsides {negative impacts} is such a policy? {Choose ALL that apply] There are no negative impacts to defaulting on the debt After defaulting, the government would have a difficult time borrowing more money [especially from those institutions whose debt they defaulted on] Many Financial institutions and even foreign governments that lent money would now face bankruptcy themselves, possibly causing a major cascade of bankruptcies and defaults around the globe. The government would face negative press from the media After defaulting, the politicians that made this decision must give up power and resign their positions.

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