This is a basic almost primal question that may seem simple, but is not.
In our investment structure all risk is measured off the risk less base which is the U.S. Treasury. All fixed-income investments trade at a spread over Treasurys.
There is a continuous 24-hour media circus talking about how the U.S. government is bankrupt or is going bankrupt; this mindless political rhetoric has people so confused that it has allowed insurance companies to manipulate the situation.
First look at the facts. If you believe in free rational markets, then you should believe in what prices and rates tell you. The interest rates today for the 5-year Treasury are 0.74%, the 10-year Treasury 1.82%, and the 30-year Treasury at 3.01% all tell you the U.S. government has extremely low default and interest rate risk.