About Fed announcement and future prospect

Federal reservehad FOMC (Federal Open Market Committee) meeting on August 9th (Bit dated...) and Fed Chairman Ben Bernake announced that they will keep Federal fund rate at zero percent until mid 2013. When I heard this statement, I got it right away that they are very desparate to protect the bond market crash. In other words, they are trying so hard to make the interest rate as low as possible because of US sovereign debt situation. As I explain in the last blog, current US government debt is more than $14.4 trillion and if other entitlements, such as social security, medicare and medicaid included, amount of debt will well exceed $100 trillion. So far, they can still manage this debt load due to record low interest rate. Imagin if this interest rate went up, lets say 10% instead of current interest rate of 1.5%, what is going to happen in the US economy? Bond market will definitely implode if this happens. In order to stop this, Fed keeps interest rate from 0 to 0.25% so that federal government can borrow money from the Fed at very low rate instead of looking for the buyers (no one will buy).