You hear it everywhere. "The U.S. has never defaulted on its debt." Yes, but: It’s not true. By the most basic definition of default — not making agreed-upon payments to those you owe — the U.S. has defaulted, arguably on multiple occasions. Why it matters: The talking point on the pristine U.S. credit record is a key bit of rhetoric for those arguing that not raising the debt ceiling — which would ultimately mean missing payments the government owes — represents an unprecedented economic risk. But in reality, the U.S. has failed to meet obligations in the past. What they're...