The problem today is not the tyranny of government, but rather the concentration of money, and hence power, in Wall Street and in the largest corporations. And it is clear that enough money can buy political power.
The United States is both financially and morally required to meet its obligations. Not doing so would expose an astounding lack of political leadership that would undermine the credibility of the country. But the disaster scenario -- default on US debt -- is still unlikely.
Falsehood creates a convoluted mess, a sense of disorder. Hold that thought and think "cause and effect" -- the financial crisis largely created our fiscal crisis leading now to the US national debt ceiling problem.