Now what do we do?

If there is any doubt about Uncle Sam paying his bills on time (that's what a credit downgrade is supposed to indicate) then what chance do the rest of us have? So what do you do about trusting other companies -- those you invest in and those you do business with?

Me, personally? There is no difference to me between a AAA rating and a AA+ rating.

What worries me is that some cigar smoking fat cats will use this as an excuse to raise credit card interest rates and mortgage rates and send us all into a new recession.