http://seekingalpha.com/article/139103-america-s-triple-a-rating-nothing-to-worry-about Liquidity and taxing authority are very meaningful.... Noting how the rating agencies are basically "commission whores"....one should have the common sense to better account for US treasuries vs a AAA rating on a bundle of mortgage debt supported by subprime type borrowers.... One has to use a different means of qualifying vs the babble from a rating agency....
Let's face it: The IRS has the best and hardest lock on their slave stock (tax payers) out of any G7 country. US citizens pay based on citizenship, not based on residency, from what I understand the same principle will soon apply to corporations -- this is a considerable solvency advantage compared to e.g. the EU countries.
the whole exercise is as stupid as moody's and s&p. the u.s's financial infrastructure collapsed. if this doesn't warrant a downgrade from "aaa" then what does?