Evidence that the pseudogap (PG) in a near-optimally doped Bi$_2$Sr$_2$CaCu$_2$O$_{8+delta}$ sample destroys the BCS logarithmic pairing instability [1] raises again the question of the role of the PG in the high-temperature superconducting cuprates [2]. The elimination of the BCS instability is consistent with the view that the PG competes with superconductivity. However, as noted in [1], the onset of superconductivity with a $T_c sim 90$ K suggests an alternative scenario in which the PG reflects the formation of short range pairing correlations. Here, we report results obtained from a dynamic cluster quantum Monte Carlo approximation (DCA) for a 2D Hubbard model and conclude that (1) the PG, like the superconductivity, arises due to short-range antiferromagnetic correlations and (2) contrary to the usual case in which the pairing instability arises from the Cooper instability, here, the strength of the spin-fluctuations increases as the temperature decreases leading to the pairing instability.