to make that payment. >> reporter: in august, powell expects the government will collect $172 billion in taxes and some republican house freshmen have argued that's enough to cover interest on the national debt, social security, medicare, medicaid, payments to defense companies and unemployment benefits. but even assuming the treasury can picwhllich bis it pays, a questionable assumption, the government would be short $134 billion, leaving no money to pay troops and veterans, student loans, food stamps, the justice department, highway spending, air traffic control and on and on. powell says 10% of the nation's economy would be vaporized, and half the government will be out of business, unable to meet payroll or pay the rent. >> once we're not that country anymore-- we're the country that didn't pay its bills-- aren't people going to look at us differently? aren't they going to say "you did it once, how do we know you won't do it again?" >> reporter: this is not a government shutdown we're talking about. powell called that a rainstorm.