In Case You Were Wondering What Folks Who Rate Subprime MBS as AAA Think of the Creditworthiness of the U.S. Government

The Washington Post has the answer. It devotes an article to Moody's assessment of the financial situation of the U.S. government.

Most people probably know of Moody's as one of the credit rating agencies that were paid tens of millions of dollars to rate mortgage backed securities as investment grade during the housing bubble years. It's not clear when its assessment of creditworthiness supposedly became more credible.

Anyhow, the ostensible good news is that Moody's says we don't have anyth...