That's if the gloom and doomers are correct? 5 Things That Will Happen To You When America Goes Bankrupt http://townhall.com/columnists/john..._to_you_when_america_goes_bankrupt/page/full/ 1) Your life savings could be reduced to nothing almost overnight. 2) Your taxes will skyrocket. 3) Your life could be in danger. 4) Your payments from the government will dramatically decrease or stop altogether. 5) You will have a dramatically reduced standard of living.