Reader's question:  

US debt, once considered gilt-edged, is becoming increasingly risky.

Credit agency Standard and Poor's downgraded America's credit outlook in April from stable to negative for the first time in history, implying that the US has been put on notice that it faces losing its AAA credit rating unless it gets on top of its yawning debt and deficit.

Could you explain "gilt-edged"?

My comments:

Gilt, as in "gilt the lily" (which is totally unnecessary, of course), is a thin layer of gold or other shiny material used to cover objects in order to give them a sparkling look.

US debt was once considered gilt-edged because it was extra safe. In other words, as debts go, the US debt is much more desirable to keep than, say, Greek or Irish debt.

However, as America's credit outlook dims, US debt is becoming increasingly risky, as other sovereign debts are.

In other words, time to sell.

Related stories:

Right down the middle

Take my word for it

40-sometimes

Last but not the least

Call it a dog

Pull my leg

Ego bath

Tough call

Rain check

Upper reaches

Off the shoulders

Off and running

Gold dust

Frugality fatigue

Red flag

Foregone conclusion

Call balls and strikes

Stare in the face

Cyber Monday

With a grain of salt

Drive home

Out of nowhere

Shove it under the carpet

the sky is the limit

hit it off

get my rib in my heart

With bells on

No harm, no foul

Go to Zhang Xin's column

本文僅代表作者本人觀點，與本網立場無關。歡迎大家討論學術問題，尊重他人，禁止人身攻擊和發布一切違反國家現行法律法規的內容。

Zhang Xin（張欣） has been with China Daily since 1988, when he graduated from Beijing Foreign Studies University. Write him at: zhangxin@chinadaily.com.cn, or raise a question for potential use in a future column.