Fox (video)What Happens When U.S. Defaults

On Aug 3, $23B in Social Security checks are supposed to go out – “They will almost certainly, definitely go out,” says Varney

• On Aug 15, we have to pay an interest bill of $30B on debt that’s already outstanding – “That will almost certainly be paid,” explained Varney, and so on and so on, “but sooner or later someone will not get the check they are expecting and that will be called a technical default, different than a mainline default, but a default nonetheless”

“Why are we living like this?”