> Defaulting would mean nothing because the debt actually means nothing...
But it does matter. It certainly wouldn't mean "nothing" to the hundreds of millions of folks who expect to collect Social Security benefits should the government decide to wipe that particular slate clean.
But even if you favor a policy of grandma-starving, there are other repercussions. The US government is able to borrow money at rock-bottom interest rates because it has never failed to repay an obligation. Despite what the King of Debt may claim, creditors don't like it when they get stiffed. The day the US government defaults on an obligation is the day every US Treasury security is downgraded to junk bond status.
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Today's Featured Article - Fasteners: The Nuts and Bolts of Nuts and Bolts - by Curtis Von Fange. The nuts and bolts of nuts and bolts is an interesting and essential piece of knowledge that applies to our older tractors. An improperly torqued capscrew on an engine head or a shear bolt that is too hard on the driving shaft of a bushog can create havoc and make an expensive and uncalled for repair. Let�s examine the purpose and design of these fasteners in order to ensure their proper use. Fasteners are probably one of the aspects of mechanics that is given the least amount of thought.
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