How it costs you: 5 effects of the downgrade

Now that Standard & Poor's has dropped the U.S. credit rating to AA and has also announced a downgrade in the credit of Fannie Mae and Freddie Mac, people are wondering what the downgrade will mean for the average citizen.  Read on for easy-to-understand information relating to what we need to know when it comes

Now that Standard & Poor's has dropped the U.S. credit rating to AA and has also announced a downgrade in the credit of Fannie Mae and Freddie Mac, people are wondering what the downgrade will mean for the average citizen.  Read on for easy-to-understand information relating to what we need to know when it comes to  protecting and maintaining our financial well-being.

ABC News, 8/8/2011

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