People and companies default -- but countries rarely do , at least in the traditional sense . U.S. politicians play financial brinkmanship but the country was not at risk of default . Other countries have defaulted -- including Argentina and Russia . Comment:
People and companies default -- but countries rarely do , at least in the traditional sense . U.S. politicians play financial brinkmanship but the country was not at risk of default . Other countries have defaulted -- including Argentina and Russia . And some , history shows , have been economically better off for having done so .