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The US did not come within one day of defaulting. It came within a day of hitting the debt ceiling, which is a very different thing. Despite the way it was portrayed, the government could have limped along for days our weeks without defaulting.

(I'm not saying that would have been a good thing--just that the idea of August 2nd as the day default would have occurred is incorrect.)



We hit the debt ceiling back in May. We've managed to stay afloat due to some accounting tricks at the Treasury.

http://www.washingtontimes.com/news/2011/may/16/federal-gove...




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