U.S. Sovereign Default? Looks Like They've Solved the Social Security Problem

I have not heard "Social Security" since the day before the Presidential election so I guess Obama & team must have figured out how to fund the obligations. Well, maybe not, they've been awfully busy with the Iraq and Afganistan wars, Iran, the banks, housing, unemployment, education, health care, losing Senate and House seats, managing awkward press about relationships with Goldman Sachs and its past and present senior members, allegations of strong-arm tactics associated with bailouts and questions of inappropriate management of significant information regarding the Merrill Lynch-Bank of America deal, China's new found power, and a few other things. Consider the impact of all of the above on the U.S.' "ability to pay" when we are faced with a relatively slow growth economy and bruised consumers-can we just raise taxes to pay for all this? Probably not enough without killing the goose altogether. Then, the inflatorama is not as perfect a solution as many would like us to think as ultimately there is a limit to the money printing solution. So, it is worth noting that today, one of the bond credit rating agencies raised a flag about the U.S.' bond rating.