We’ve always known that the legally required payments would be made, in part, because many people hold government bonds for their own investments in retirement, and bond/pension debt takes first priority for funding.

What will happen is that we will have to decide if and how much we are willing to additionally pay in our taxes to fund those “safety net” services you would like to move up the priority list. It’s never as much fun to pay for the vacation you took last year as it is to spend money on something now.