Yes, I agree that US rates will likely rise and that it will make the deficits substantially worse due to increased debt service costs.
Regarding the prediction on timing (that we in the US will get our turn once the EU crisis is resolved for better or for worse) — I think it’s plausible and I’ve thought the same thing myself, but in matters of timing one can only ever makes guesses. It’s a possibility but there are many others too.
