If the total US national deficit keeps getting bigger and bigger as a percentage of GDP, at some point, lenders (bond buyers) will decide it's too much and dema

If the total US national deficit keeps getting bigger and bigger as a percentage of GDP, at some point, lenders (bond buyers) will decide it's too much and demand higher interest rates. This will start a downward death spiral as the US needs to borrow more and more just to pay off interest. The only choice will be to shoot out more money causing massive inflation inside the US. The price of anything imported will skyrocket. The US will drastically cut social security payments and other spending, leading to riots. All politicians have told us that since the US is the global fiat currency, this will never happen here. It has happened to many other countries which have borrowed too much, but it will never happen to the US. So it's OK for the US to keep spending, and cutting taxes at the same time. My conspiracy theory is that all the politicians are deliberately lying, and this is a possible scenario.