Immediate default on all entitlement debts is going to be a bad thing. You will have people screaming because they were screwed over by their government who stole their money for years to pay for someone else, you will have people who are too dependent on the State to fend for themselves, you will have people who will use the breakdown in society to commit evil acts.
No one ever learns do they?
“No one ever learns do they?”
Some do, but they are ignored.