Is Moody's Becoming too Reactionary?

The rating agencies are justifiably under fire for mistaken assumptions w/r/t mortgage-backed bond ratings. Is Moody's trying to distract the public by their latest salvo (that US credit rating may fall below AAA by 2010 because of rising costs of social services). As a measure of credit rating, I'm not sure how the US government could ever fall below AAA so long as they issue debt in a currency that they can print.

Unfortunately, we should be running smaller deficits now (and paying off a sizable chunk of our debt) while baby boomers are mostly still working. But that has never been their way.