How Does The Moody and Fitch Downgrade Affect Your Finances

With more than $33 Trillion dollars in debt, the United States is facing a mounting problem….will we ever pay off our debt? Did you know that after Medicare/Medicaid, Social Security, and Defense, the number four line item on our fiscal budget is the net interest on the debt…meaning the money we loaned to ourselves? Did you know that corporate tax, personal income tax, and payroll tax account for the lion’s share of our annual revenue? It’s becoming increasingly clear that the rating agencies are concerned about our ability to handle our finances in the United States and so should you. Did you know that the continued growth of debt could put a big dent in your wallet with two big words…INTEREST RATES! Here’s the scoop on the real reasons why the rating agencies downgraded the United States and what you could expect in the future.
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