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.


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