[quickthrowman]

Respectfully, the fact that you can’t think of any consequences that exceed the risk means that you don’t understand what is at stake.

One single missed interest payment to Treasury bond holders would be a default, something that has never happened to the US before. Our credit rating would be downgraded, investors all over the world would liquidate their US Treasury bonds, and our borrowing costs would skyrocket, both for government and commercial/consumer loans.

This instantly causes a recession, far worse than what we saw in 2008. A US Treasury default would have catastrophic consequences.

This is one of many catastrophic scenarios possible when messing with a government payment system that handles trillions of dollars in payments.

Any money saved by cancelling payments is going to be used to give people wealthier than you or I a tax cut. Is that really worth the risk?