The question is, what will happen when no one will lend you anymore?
Well in the case of USA it's easy, they can just print whatever amount they want until their debt (which is in fix amount of dollars) worth nothing.
Yes, I believe this is the path of least resistance from the public and will be what they will do.
The result is an ever devaluing dollar which makes a certain virtual currency a good investment.
Ahah! Yeah good point. It's why we all try to have different form of investments, like btc or gold.