The Federal Reserve has maneuvered us into a position where we lose no matter what happens.
The unfortunate truth is that you are absolutely on the money. Arrg.
But, this is a favor. It is telling Congress, no you can't get anyone to borrow that next Trillion. So, cut now and cut hard.
That's my take. I'd be perfectly happy if no one will lend us money which runs up the debt. Supposedly there's money on OUR sidelines, if need be.