Wondering who you think bailed them out too.
"The country was once again plunged into economic upheaval, however, when the ruble plummeted in May, 1998, following a crisis in Asian financial markets. Unable to pay its foreign debts, Russia struggled to restructure loans and keep its new financial services sector from collapsing. By 2001, however, the Russian economy recovered and benefited from economic reforms and a rise in oil prices. In July, 2003, a law permitting the sale of farmland was passed by the parliament; foreigners are banned from purchasing agricultural land but may lease it. Privatization of state-owned companies has continued, but more slowly, and under President Putin the government has intervened more freely in economic affairs, for example, to solidify state ownership of Russia's energy industry. Because of this, foreign investment in the economy has remained relatively low. In 2006 the ruble became fully convertible when the government ended restrictions on currency transactions, and oil revenues enabled the government to pay off some $23 billion in foreign debt ahead of schedule.

The Russian Federation possesses a well-developed road and rail network in its European third, a more limited network in Siberia, and a negligible number of roads and rail lines in the Russian Far East. Barges on the vast network of inland waterways can carry a huge amount of traffic. In E Siberia, ships carry virtually all heavy freight. Most of Russia's cities and towns are connected by air. Exports are dominated by natural resources, particularly oil, natural gas, nickel, and timber."

If we filed bankruptcy for the government, the country would be fine. The troops would have to come home and the programs that couldn't be funded would have to be cut. To be honest, Putin sounds about like Bush and McCain to me, not that i see anything better on the table. Russia invades Georgia, it is a big deal. Bush invades Iraq(again) no sweat.