[quote=livinincali]
The government collects about 2.5+ trillion dollars in revenue each year from various sources. The interest on the debt is only about 500 billion. We aren’t going to default on the debt. We have plenty of money to make the interest payments on debt already incurred. We might default on some other obligation like sending out medicare checks on a timely basis or cutting social security checks by some percentage but the last thing the treasury is going to do is default on an interest payment for a bond.[/quote]
How is not sending out medicare checks or cutting social security checks or failing to pay a defense contractor not defaulting on government debt? It is. Those are still government debts.
