i don’t really care with the definition of ‘default’ is. Every financial person I have seen write about this agrees there is no difference between defaulting on an actual bond payment and defaulting on other payments the government must make. Markets will view it the same way.
Default has a specific meaning.
You are using it incorrectly.
http://www.freerepublic.com/focus/f-news/3075707/posts
http://www.freerepublic.com/focus/f-news/3076855/posts