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Standard & Poor's Downgrade: What it Means to You Patch.com

The debate surrounding the debt ceiling circus in Washington, D.C., had barely died down before a storm of public opinion engulfed Standard & Poor’s move to downgrade America’s credit rating from AAA to AA+ earlier this month.

S&P’s decision was a mirror image of public opinion surrounding high debt, high spending and high drama by elected officials. I’ve been speaking to some of the best economists of our times to obtain expert perspectives. One of them is the former chief economist at the International Monetary Fund.

Raghuram Rajan reminded me that policymakers in Washington are a divided bunch because the people who sent them there are so severely divided themselves. We’ve just reached an impasse as a nation, and that is quite troubling.

Closer to home, there is one thing we can all agree on. The immediate relief we feel in the wake of the Federal Reserve’s intervention to keep discount rate close to zero for nearly two years is good news for borrowers. However, individuals receiving interest on U.S. Treasury bonds will have less money in their pockets on the heels of low yields.

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Getting an online auto line is not only effective in saving you hours worth of time but is also cost effective as well. For example, of you apply for and obtain an auto loan through the dealership where you will be purchasing you new auto, you will pay, on the average, 3% more than More >

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Important things to know before you refinance
A true no-cost refinance means you pay no money upfront and neither your loan amount nor your interest rate is increased to build any costs into your new