From the above. McConnell missed an opportunity. A DEFAULT occurs ONLY when a debtor fails to pay the scheduled service on his DEBT. Washington's revenue stream will easily cover its debt service; therefore there's no risk of a default -- and therefore Stephanopoulos, a veteran prevaricator, was trying to mislead his audience. But McConnell, like most Republicans, is hesitant ever to accuse a mortal enemy of a wee fib.