The median citizen would be unemployed. The recent credit crisis caused a surge in the unemployment rate; a US default, even if partial, would be way worse. If

The median citizen would be unemployed. The recent credit crisis caused a surge in the unemployment rate; a US default, even if partial, would be way worse. If you read about basic finance you'll understand why. Google for "risk-free rate" and "repo", for instance. The role of the US dollar now is much bigger now than in FDR's time.