I see no default. So long as there are income producers, corporate or individual people. Taxing power is paramount. Only risk with bonds is interest rates could climb to Carter era.
Probably correct, but consider that the current problem (deficit/national debt) is so out of control that taxing the “rich” (over $250K income according to Obama/Biden) at 100% of their income only generates about $1 Trillion annually while the current annual budget deficit is about $1.8 Trillion...and of course taxing them at 100% of their income is “unworkable”. So unless the Feds take a 30-40% budget cut across the board soon then default or currency debasement/”inflate away the debt” becomes inevitable.