Yes you are very correct that no matter what will effect your credit there we be no over look by a credit card ,mortgage company or auto loan facility unfortunately as they will say yu should have been prepared for it.
As far as the Gov and budget IMO it's more of a bipartisan issue and earmarks ,who's gonna get what for their vote, then a actual 'budget' as they really have no reality on spending verses revenue. IMO it's continues on to state and local Gov.
They need wives and husbands of real households design a budget. I'm we make x per month and we can only spend x or less. There is NO common sense to budgeting in Gov. I wish I had their check book in reality it is ours and our kids kids check book with a negative balance for the next couple 100 years,pretty said.