What’s gonna happen when we default?

It’s gonna be bad.

And the impacts vary depending on which government we are talking about. Some are better than others. There are federal, state, county, city, and even school boards that have much to say about taxing us. And we continue to pay because we have to.

And default means simply we cannot pay our debtors. Fellow human beings with money will not throw their money away out of American patriotism. They have to live, too.

And our own governments can only spend what they have, even including borrowing until it busts.

Too many companies like Moody’s are already predicting the junk bond status of US Treasury bills, thought the years do vary in their forecasts. It is closer than we should hope.

And we Americans still have to live and go on. And we will.

Times are gonna be hard. Many will be cold and hungry this winter. But in the same vein, we will both survive and be better for it. God help us all.