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The bill performed to increase the federal debt ceiling was rejected by the House being considered as a risky toying with the issue.

The debt-ceiling crisis may affect lives of American consumers. Possibly default would have a lot of negative effects for the US. So, what would happen?

Debt ceiling issue is still being issued by the Congress and the president. Social Security and Medicare may be at risk if the debt limit is not raised.

Washington's wrangling over the debt ceiling may soon have some very real economic consequences. Banks are not amused, and they are preparing to reduce their Treasury buying in August if an agreement is not reached.

Have you ever seen that commercial where a man standing in front of his dad and feel embarrassed to borrow money from him? And finally when he finds strength to ask for some cash his dad says no and there is a few gallons of water mixed with ice shower his son from the ceiling. Have you experienced something similar?

As a consequence of the modern debt ceiling bustle, Americans can wait to a list of budget cuts, desolately referred to as severity measures at times.

Borrowing interest rates on mortgages and other loans for consumers may increase due to the downgrade of US debt. Consumers should be ready for the effects.