Although the facts are pretty much correct there are two things worth mentioning:
First, a state budget is not really working like a household budget. A limit on lending is usually a limit on investment which is a lever to speed up economic growth in a time of economic stagnation. The us is a few years after Biden boosting the post covid economy. Yes printing money is bad but it is exporting inflation to most of the world because they use the dollar. So cutting of capital is a serious step better deliberated throughoutly.
Second, this isa an opinion piece, not the federal government announcing insolvency. This is a long known issue and an opinion piece is usually as seriousa as a well written comment on Lemmy.