Since it began to give credit ratings to nations in 1917, Moody`s has rated the United States triple-A. U.S. Treasury bonds have been seen as the most secure investment on earth. When crises erupt, nervous money seeks out the world`s great safe harbor, the United States. That reputation is now in peril.
Last week, Moody`s warned that if the United States fails to rein in the soaring cost of Social Security, Medicare and Medicaid, the nation`s credit rating will be down-graded within a decade. [US`s triple-A credit rating `under threat`, Financial Times, January 11 2008]