The cost to insure against a U.S. default hit an all time high of 90 bps today ($90k on $10 million in insurance). Again, who pays if it defaults?
http://zerohedge.blogspot.com/2009/02/usa-cds-hits-all-time-wide-of-90-bps.html
FYI: There isn't any more analysis at Zero Hedge on this (I quoted the entire post), just wanted to link up the source.