Do We Really Default On Our Debt If We Don’t Raise The Debt Ceiling?

I’m not a financial genius, but as best as I can tell… we don’t.

During the last 12 months, the interest on the debt averages out to about $35B per month, or $1.2B per day.
It looks like the government takes in an average of $9B per day, but it spends $17B per day.

Sounds to me like we just need to start living within our means and stop spending money on stupid stuff.

References:

Interest Expense on the Debt Outstanding
Smacking Into the Debt Ceiling: the Day-by-Day Consequences