“Bankruptcy Precedes Dissolution”

“Bankruptcy Precedes Dissolution” Please respond to the following:

 Some
credit the fall of the Soviet Union to the steely-eyed resolve of U.S.
President Reagan and the next Republican administration. However,
financial insolvency killed the Union of Soviet Socialist Republics more
effectively than rhetoric or resolve ever could. The Soviet Union had a
far-reaching military, a long history of imperialism, and big problems
at home. One might say it imploded in upon itself.

•  In
  the early 1990s, the U.S.S.R. was embarking on a series of structural
  social and economic reforms that were designed to completely alter its
  failed political and ideological history. At the same time, the U.S.A.
  was a far more surefooted country with a solid history of stability.
  Describe two (2) countries today that share at least some of those same
  circumstances, and which one (1) seems in the better position. 
• Even
  after “winning the Cold War,” thus proving the alleged superiority of
  the libertarian and capitalistic system, the United States of America
  finds itself facing a complex and somewhat unexpected economic situation
  that some speculate could lead to insolvency. Give your opinion on what
  would happen to the U.S. economy if major foreign creditors called our
  loans. 
• Describe what national budget items you think the
  country should eliminate first if the “United States Empire” were to
  implode upon itself for financial reasons.