Economy blah blah spending blah blah

Now, I've been trying really hard the last few months to understand what's been going on in the economy, and still I find most of this article to be pretty inscrutable. I'm not even saying that it's wrong: I'm just saying that I don't understand it. For example, first it says this:

Big deficits force the government to borrow more money, saddling future generations with large financial burdens. The problem is especially acute now because credit markets, which at times in recent months have been all but frozen as the financial system has been buffeted, could be further strained by the need to finance the huge deficit.

Well, wait a minute. Yes, there is a credit freeze--for private individuals, companies, and investors. But there isn't a credit freeze for the United States government--in fact, the whole reason there is a credit freeze is because lenders will only lend to the United States government (because it is perceived to be the one borrower that cannot possibly fail). The article even explicitly mentions the favorable interest rates that the government can borrow at as a result of this investor "flight to safety":

...the good news, at least for the moment, is that the Treasury’s borrowing costs are as almost as low as they have ever been. Short-term Treasury rates are hovering just above zero, but the rates on 10-year Treasury bonds are below 2 percent.

Maybe he means that huge government deficits will worsen the credit crunch because the government will end up sucking up all the dollars that would have been lent to private borrowers? But isn't the whole point of the deficit spending to increase demand to get the economy back at full capacity and get lenders confident enough to lend again? I mean, if there was no stimulus everyone agrees the recession, unemployment, and credit situation would be worse, right?

Bah. Time to go find a blog post somewhere that actually explains what the hell is going on with this stuff...