Err, not quite. It is a ponzi scheme that is also propped up by the world´s biggest military, so kind of a ponzi scheme with aircraft carriers. That counts for a quite a lot, so Obama has still quite a lot of leeway to deficit-spend his way into never-never land, before the scheme collapses. Besides, what other currency are the dollar holder to flee to? Unlimited Keynesian phantasy spending is practised by so many governments today, it is kind of a collective race to the bottom.