Is the debt ceiling drama really all about the GSEs?

"Whenever the GSEs report a capital shortfall (not a remote possibility, given that the two enterprises have chalked up billions of losses since the bursting of the housing bubble, and have to make preferred stock payments too) the FHFA has to ask the US Treasury for money to plug the gap. The Treasury then has to send the funds to the GSE within 60 days. Enter the US debt ceiling dispute, which could see the US suspend payments from August if Democrats and Republicans don't reach agreement."