No Greece debt payment today: 3 things to know (June 5, 2015)

[dixiegrrrrl]

3. Most countries, including USA, borrow to pay debts.

We have rolled over the National debt for decades.
Which of course makes the debt worse, esp. if and when interest rates are higher.
IN fact, we have so much debt that the Fed. had to invent "quantitative easing" which is fancy speak for The Fed. buying the Treasury bills that no one else would buy.

Remember those rather panicked reports that China has so much of our debt ( Treasuries) that it can control us?
The good/bad news is that China is dumping Treasuries now.