Assclowns. Not like we have enormous amounts of sales tax revenue vs. budgeted due to oil boom.

Here's what I don't get.

If someone is stupid enough to lend them money, who cares? They default, the lender never gets their money, and a lesson is learnt.

The only problem is if they somehow gain the ability to print infinite money out of nothing... oh wait.

Edit:

I'm assuming this is money given by the government and not bonds sold to the public, right?