Slave to the Lender

I'm sure global financial people would tell me that these transactions go on all the time. But this headline just makes me a wonder; U.S. SEEKS 300 BILLION FROM GULF STATES. So why didn't we just sell bonds at auction like we usually do to finance our lifestyle that we can't afford? The idea of asking countries (who don't like us) for some quick cash to keep us afloat, reminds me of someone heading to the loan-shark as the lender of last resort.

Read article here; http://news.yahoo.com/s/afp/20081120/bs_afp/financeeconomyusgulf_081120072928

With medicare, social security and the U.S. Government all being insolvent AND U.S. companies going bankrupt almost every day...I ask this question: How long will it be before the lenders of the world (countries with positive savings rates) realize that America is incapable of paying back it's debts and no one is willing to lend us any more money? What would that look like if America actually had to live off of money that it actually has? I fear that we would not like the answer.