or the fact that our credit rating will be lowered, which will discourage countries like China from buying US government securities.
Or selling them. The whole default thing is a canard anyway. Government will still get 60% of its budget from ongoing tax collections. If it were catastrophic to not pay our debt, wouldn't we continue to pay our debt out of the 60% we're still getting? Just a thought...
we pay our debt by other countries investing in government securities, which pay very low interest, but are extremely safe. Why? because the US government has never defaulted. Once you default, these investors will never again be so confident.
I'm good with you responding to my posts. In fact I appreciate it. But could you do me a favor and read them...