When a nation is bankrupt, when a nation cannot fund the social programs they have created a dependency upon, things get very, very ugly. People go hungry. People will go to great lengths to feed their children, to protect them from others wanting to feed their children. When a country has created social programs such as Social Security or Medicare/Medicaid and those programs are already facing imminent bankruptcy, adding another social program to further drain the already empty coffers simply creates a vacuum. That vacuum sucks the remaining money out of the economy, ultimately resulting in the aforementioned very ugly situation.
Here is a link to the Chairman of the Federal Reserve, Ben Bernanke describing the very real possibility of this occurring. Not in Myanmar, or Nairobi, or Taiwan. Right here, my friends. Right here in the good old U. S. of A.