A country dangerously flirting with default; AAA credit ratings hanging in the balance; the possible financial ruin of the free world as we know it, but what’s really the big deal? Think the world of high finance and debt ceilings is too far removed to have an impact on your way of life? Think again. Depending on how you look at it, the U.S. bond interest rate has a lot to do with yours. From a homeowner looking for a new mortgage, to a small business owner looking to expand, to a consumer in search of the latest tech toy, credit is integral and the debt ceiling debate could potentially change that playing field and raise prices for everything. Beth Kobliner joins Patt to take your questions and explain what the country’s credit rating means for your wallet.
Beth Kobliner, a member of the President’s Advisory Council on Financial Capability and author of the bestselling book Get a Financial Life