Yes, the government is "insolvent" - in that the books never completely balance. But the money that comes in, goes out to pay immediate debts and there hasn't been an issue. Imagine having a government that couldn't meet payroll. Or a government that had to lay off a branch of government...say, like the FDA. Or the Department of Homeland Security. Imagine a government that couldn't afford to send out food stamps, or send military aid to Georgia.

That's what I'm talking about. That we would suddenly have to start making choices about things that were "fiat" in the past. This type of expenditure - jseal says it's 3.7% of GDP - could do that.

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Life is too short not to love and be loved....preferably multiple times in one night.

I think men talk to women so they can sleep with them and women sleep with men so they can talk to them. ~ Jay McInerney