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S&P's Downgrade of the U.S. Credit Rating

  • Broadcast in Finance
Natalie Pace

Natalie Pace


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Late Friday afternoon, August 5, 2011, when most people were off to Happy Hour, drowning their cares after a wild week of Dow Drops, Standard and Poor's dropped a bomb.  The U.S. Credit Rating was downgraded from AAA to AA+.  The U.S. is no longer on CreditWatch, but the Outlook is Negative, meaning that if Congress does not make the requested budget savings of at least $4 trillion as soon as possible, the U.S. credit rating could be downgraded again.

How safe are your stocks?  Your bonds?  What happens to housing?  Should you buy gold?  What can Americans do to earn back the AAA rating and remain the world's largest and most respected economy?