[steve8714]

France did it. Where’s their comeuppance?

[Jack Black]

Government -to- government loans is different then negotiable bonds. (If you are referring to the debts from more the 100 years ago).

Liberty loans were not at the center of a highly interconnected international electronic financial system.

U.S. Treasuries are. Even Argentinian bonds were circulating in open markets.

The US Government is a particulaly soft touch on forgiving loans, that's good for our creditors, but it's not the same as them defaulting on publicly traded bonds.