U.S.AA.

Faber Says U.S. Would Be Rated Junk if It Were a Company
http://www.bloomberg.com/avp/avp.htm?N=av&T=Faber%20Says%20U.S.%20Would%20Be%20Rated%20Junk%20if%20It%20Were%20a%20Company&clipSRC=mms://media2.bloomberg.com/cache/v9feFJPBWjm0.asf

Geithner Says US Will 'Never' Lose Aaa Debt Rating
http://www.businessweek.com/news/2010-02-08/geithner-says-u-s-will-never-lose-aaa-debt-rating-update1-.html

Anemic growth could threaten US Aaa rating--Moody's
http://www.reuters.com/article/idUSN0317992520100203

Regardless of the doom and gloom, arrogance, and saber rattling presented here it is important to remember this is all a confidence game.  As John Mauldin says, "The dollar may be the worst currency in the world, except for all the others."  So just keep paying attention to those Treasury auctions.  The only exception I'd place on Mauldin's statement, assuming it was given in the context of being able to choose amongst all asset classes, is gold may be better than the dollar.  

The problem with gold, though, is it is extremely difficult to value.  It pays no dividends, has no cash flows, produces nothing tangible.  So how can you assess its true value?  The value of gold is only as strong as what the next guy in line is willing pay (or kill) for it.  On the plus side, it is tied to no country.  Which is why, as history's steamrollers have rolled by, every powerful civilization that has walked the earth has killed, pillaged, and raided for this metal.  We all value it.  Always have, always will.