In my blog of yesterday I stated that we can service the Federal debt out of current revenues because those revenues are 5 times the cost to service the debt.  I was wrong, current revenues are 11 times the cost of servicing the debt so there is more than ample funds to pay the debt and absolutely no reason for the USA to default on its obligations.  So those speaking of a financial Armageddon if we do not raise the debt limit before tomorrow are simply trying to scare the people.