Confusion about the 14th Amendment

There has been much discussion about the coming debt ceiling limit deadline to avoid a default by the U.S. government. Capital Gains asks "Is August 2 Or July 22 The Day The Government Turns Into A Budget Pumpkin?" People seem to be confusing two different concepts: "default on" and "abrogate".

To default on debt means not paying the debt in the time and amount originally agreed to. To abrogate debt means to repudiate or reduce the amount of the debt. Section 4 of the 14th amendment clearly prohibits abrogation of the debt. I do not see any restriction on defaulting on the debt.

The point is that some in Congress are talking as if not raising the debt ceiling would result in abrogating the debt. After a default, the debt will still be there and much harder to repay as lenders would be reluctant to extend us the money to even rollover the existing debt.

Let us hope that wiser heads prevail in this discussion.