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via:elev8

The downgrade of U.S. is not the end of the world but it is the increase of hardships. The debt ceiling agreement already is weighing on the economy.

When the United States issues government bonds, they’re assigned a credit rating that reflects the risk of default on that debt instrument. Many pension funds and average investors are required to buy AAA-rated Treasury bonds because they’re considered the safest. Ratings agencies have continued to warn that if they determine that whatever Congress does fails to improve the national debt outlook sufficiently, they may change the U.S. debt rating to AA or lower.

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