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I think that there's a fundamental disconnect here. The article itself is a scare tactic, I believe.
For example, one thing I noted is that nowhere did it mention what fund class the G fund is.
For example, it tried to make the G fund some sort of "conspiracy" because it's not managed by blackrock. Why isn't it? Why should Blackrock get involved?
Base Funds:
G: Government securities, specially issued to the TSP.
F: Government, corporate, and mortgage backed bonds
C: Stocks of large and medium sized US companies
S: Stocks of small to medium sized US companies(not in C)
I: International stocks of more than 20 developed countries.
In short, it's not that the government can "borrow" money from the G fund. If your funds are in the G fund, you already lent them to the government! The G fund is basically US Savings bonds.
So yeah, the government could, theoretically, say that it's not going to pay back your money, either for right now or forever(you lose your investment), but considering that the government can always pay you back simply by inflating the money supply a bit, I doubt they're going to do that. Do you want to piss off all your federal employees, including quite a chunk of the military?
Otherwise, well, them borrowing your G fund money is a bit like renting your truck to a guy, then the guy going 'I'm borrowing your truck!' while still paying the rental charge.