We Are Officially a Sub-Prime Nation


That is, according to the FICO-score calculators over at the Credit Loan blog.

If Uncle Sam wanted to buy a house, he would get a rate of 7.836% for a 30 Year Fixed rate.

The main downward pressure our credit rating?

[T]he government owes almost four times its yearly take. Compare that to your own debt level and you can see why this looks insurmountable.

Link via Instapundit.