Money Matters

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.

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US stocks closed out the worst week in over two years on Friday during the volatile session that watched the main indexes whip back and forth.

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Downgrade of the US credit rating is possible. That is the last thing consumers, businesses and investors require in frail economic recovery.

Short-term loans will help to cover the California's bills if money stops arriving from Washington. But still there is a hope that the federal government will come to consent.

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?

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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.

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In case the government misses the deadline to raise the debt limit, California's treasure Bill Lockyer will take out $5 billion to cover the operating expenses.

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