You are assuming that those who own our debt get their money back. Not really. What happens is that they get interest on their bonds, etc. (talking about bonds issued by the United States of America) The interest goes up and down based on what the current interest rate is as defined by the Federal Reserve. If one is reducing their bonds they typically sell them off. If, for instance, we don't pay the interest, and so they try and sell their bonds it means its really time to put all your money into land of one sort or another because your money value is on the decrease. The object is to change your money into something of value instead of faith.

Unfortunately, even though all the experts say we are just dandy, our direction is not a comfort. I sincerely hope they are right.