Let me start by saying I've done no research on this other than as a sort of "thought exercise," but I'd be interested in opinions. It is always claimed that U.S. goevernment debt is assumed to be "riskless" - at least this is what I was taught long ago in Econ and Finance classes. Personally, I was skeptical of this statement then, and even more so now. Regardless of whether you're a liberal or conservative, the fact remains that the U.S. has gone from budget surplus to deficit in the last few years. Added to this is the potential liability of Social Security as the Baby Boom generation comes of retirement age, and the newly-created presciption drug benefit liabilities, to mention just a few. Which countries might be said to have a more stable outlook, and thus, perhaps less risky govt. debt? Another way to look at this might be to ask which country's govt. bonds might be as safe or safer than U.S. debt as an investment? Interested in thoughts - and thanks!