As most Americans are aware our elected officials are currently evaluating a number of plans aimed at getting our nation’s ballooning debt under control while concurrently raising the debt ceiling. Without raising the debt ceiling, it is predicted that the US could default on its current debt obligations and see its credit rating plummet from AAA to D status. From a consumer’s standpoint that is like seeing your FICO credit score drop from 750 to 500 overnight. In fact, the Federal Reserve is making plans for this possible scenario. If the US does default, consumers should expect to see higher […]
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