One could argue the US government is already insolvent. Is it coincidental that Berkshire Hathaway's Warren Buffett is reducing its holdings in Moody's, the credit ratings agency? Berkshire, the American icon of capitalism, itself was recently downgraded.
http://www.nytimes.com/2010/03/16/business/global/16rating.html
Wednesday, March 17, 2010
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