The US Credit Rating Slips Below Mexicos: Watch Those Gas Prices Rise

The American dollar is nearly worthless, and the news doesn't get much better. The American credit rating has now slipped below Mexicos. Of course, this may not be all bad. When you have a bad credit rating, you usually don't have the opportunity to borrow money. That has got to be good for the national debt. Ah hell, what am I saying. We know Washington isn't going to stop spending. They will just tax us more.

SAN FRANCISCO (MarketWatch) — The U.S. got a sovereign credit rating of C on Thursday, in line with ratings for such smaller economies as Mexico, Estonia and Colombia.

Weiss Ratings, based in Jupiter, Fla., has rated the creditworthiness of financial institutions for several years, but the firm launched sovereign- debt ratings of 47 countries on Thursday. The U.S. rating of C (Fair) ranks it 33rd, Weiss noted in a statement.

A C from Weiss is roughly equivalent to a BBB rating from the big rating agencies like Moody’s Investors Service, Standard & Poor’s and Fitch. That’s about two notches above non-investment grade, or junk, status.