The last time US debt was downgraded markets plummeted. Will it happen  again? | CNN Business

In an unprecedented move that has sent ripples across global financial markets, Fitch Ratings—one of the world's leading credit rating agencies—has downgraded the sovereign credit rating of the United States. The key reasons? The ongoing drama surrounding the debt ceiling and overarching concerns about U.S. governance. But what does this mean for the average person, and why should we care? Let's unpack this development.

Understanding the Basics: What is the Debt Ceiling?

Before we delve deeper, it's essential to understand what the debt ceiling is. In simple terms, the debt ceiling is a cap set by Congress determining how much the federal government is allowed to borrow. While the intention behind it is to maintain fiscal responsibility, it has,…

522 Views, 0 Comments