Other way, dollar currency is averagely high, in case of debt crisis, printing more money will ease the debt very fast, the dollar still have some power all over the world and that can hold the American debt very easily, of course imported things in US would become expensive and american products become cheaper, with this, as oil is using US dollar as trading currency, oil would become cheaper to other major nations while US recover from any debt adjustment.

Remember PIGS???? There is always a way out....all exept Greece, still US debt is far from Greece debt level, you can still spend a little more.