Quick Update: Default, Debt Ceiling Fiasco, and Interest on Your Student Loans
Default is still a possibility as the August 2nd deadline nears. Regardless of the outcome, the average American will be hurt by whatever happens. So-called compromise is a euphemism for selling out the poor and the middle-class. At least there are a few folks on the Hill, like Senator Bernie Sanders, who won't accept such measures. But we have seen something unprecedented occur, and when a "Democratic" president willingly puts Social Security on the table, the feeling of betrayal spirals into fury.
The triple-A rating will most likely be downgraded, and that means, as AEM has been reporting, that interest