You caught this one early... that's good. I think there's a good chance too - and I don't want to get stuck paying more in the new money (for debt) than the old - which is why I'm going to absolutely ZERO debt. (other than water and electric...) I think the negotiations for the new money will be punitive..
It's always good to be out of debt. Who knows what the price of the "new money" will be.
Also, if you have debt, hyperinflation will cause that debt to be virtually worthless if salaries are forced to rise to keep pace.
So, who knows what the real strategy should be.
One thing is for sure, China will one day be able to buy this country for pennies on the dollar, and they probably will.