Not many people noticed amid the Democrats’ struggle to jam their health-care bill through the House, but in recent weeks U.S. Treasury bonds have lost their status as the world’s safest investment.

The numbers are pretty clear. In February, Bloomberg News reports, Berkshire Hathaway sold two-year bonds with an interest rate lower than that on two-year Treasuries. A company run by a 79-year-old investor is a better credit risk, the markets are telling us, than the U.S. government.

Warren Buffett’s firm isn’t the only one. Procter & Gamble, Johnson & Johnson, and Lowe’s have been borrowing money at cheaper rates than Uncle Sam.

via Bond Rates and Obamacare – Michael Barone – National Review Online.

During WWII, the government encouraged the purchase of bonds to support the war effort. Today’s government would just require it.