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Schneed10 · 08-06-2011, 12:19 AM

Wow. This really is big. Think of the economic ripple effects.

When your credit score goes down, the interest rate on your credit card goes up. Same thing here. The US will have to start paying higher interest rates on its debt. So that eats up even more of our federal budget, which will require even more spending cuts and tax increases than were required before.

Unemployment will trickle back up. The higher interest rates may require the US to increase the money supply leading to inflation.

Hope you're all really good at your jobs.

08-06-2011, 12:19 AM	#10
Schneed10 A Dude Join Date: Feb 2005 Location: Newtown Square, PA Age: 45 Posts: 12,439	Re: US Credit Rating Downgraded To AA+ Wow. This really is big. Think of the economic ripple effects. When your credit score goes down, the interest rate on your credit card goes up. Same thing here. The US will have to start paying higher interest rates on its debt. So that eats up even more of our federal budget, which will require even more spending cuts and tax increases than were required before. Unemployment will trickle back up. The higher interest rates may require the US to increase the money supply leading to inflation. Hope you're all really good at your jobs. __________________ God made certain people to play football. He was one of them.