Default Is Not About Creditworthiness

Default Is Not About Creditworthiness

I know, I know, you're going to object.
But please read this through first, then object if you wish in the comments.
There is a lot of hot air flying around the mainstream media on the subject of "default."  First, what the media is calling "default" isn't, as I've pointed out repeatedly.  To "default" on an obligation it must first be a legal obligation that you are compelled (by contract or otherwise) to perform.
There are none of those in the context of political promises.  Among political promises, I remind you, are Social Security, Medicare and Medicaid.
Those are not contracts.  They're political promises and subject to revision any time Congress would like.  Such as now, for instance. 
Want to argue with that?  Go look at your annual Social Security statement -- either the older printed ones or the newfangled online one.  It clearly states that Congress may change the law and thus what you receive any time it wants.  There have been multiple attempts to challenge those changes in the past (as occurred when Reagan changed the retirement and tax profile) and every one of them has failed in the courts.  This is settled law going back decades folks, and no amount of whining changes that fact.